Deductibles are the amount of money you have to pay out of your own pocket before the insurance "kicks in". For instance, if you have a $1000 deductible and your bill from the hospital is $3000, you would pay the first $1,000, then the insurance would pay their agreed upon portion of the remaining $2,000.
Co-insurance is similar to a co-pay in that it is your portion of the bill that is owed. The difference is that a co-pay is a set amount, say $20 per office visit where a co-insurance is a percentage of the bill.
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Co-insurance is similar to a co-pay in that it is your portion of the bill that is owed. The difference is that a co-pay is a set amount, say $20 per office visit where a co-insurance is a percentage of the bill.