What’s the difference between a co-pay and a deductible, and what does that mean for me?

A co-pay is a set dollar amount (for example: $20) that you pay at the time of your appointment as determined by your contract with your health insurance plan. A deductible is an amount set by your insurance company that has to be met prior to your coinsurance kicking in…. meaning you have to meet this deductible before your insurance will start making any payments.