Health insurance doesn’t always cover 100% of your costs. In fact, it’s designed to split the costs of medical care with you up until a certain point, called the out-of-pocket limit. After you hit the out-of-pocket limit, health insurance will pay 100% of your health care costs and medical bills.
There are a few ways that health insurance companies might share costs with you, and they make up major features of your health insurance plan that you need to be aware of: your deductible, your copayment, your coinsurance, and your out-of-pocket limit. We’ll discuss them in more detail in our “Key features” section below.
