The four kinds of costs you may pay:

Cost 1: Premium

A monthly bill you pay to your health insurance company.

Cost 2: Deductible

The amount you must spend on your health care each year before your health insurer starts to pay some of the cost.

Cost 3: Co-pay

This is a fixed amount you pay when you use health care services.

Cost 4: Co-insurance

This is a charge where you pay a percentage of the total cost of the service.