What is the difference between a deductible and a copay?

A deductible is the amount you must pay out of pocket for healthcare services before your insurance company starts covering costs. For example, if you have a $1,000 deductible, you pay the first $1,000 of medical expenses yourself each year before insurance kicks in. A copay is a fixed, flat fee you pay for a specific service at the time of the visit, such as $25 every time you see your primary care doctor. Copays often apply regardless of whether you've met your deductible, depending on your plan. The key distinction is that a deductible is a cumulative annual threshold, while a copay is a set per-visit charge.