What is the difference between premiums and cost sharing?

The amount you pay each month for coverage is called your monthly premium. Your monthly premium will vary depending on your category of coverage, age, where you live, whether or not you use tobacco, and the provider network associated with the plan. Lower premium plans tend to require enrollees to pay more for the care they receive, while enrollees in plans with higher premiums will generally pay less for the care they receive. Thus it is important to consider how much you are able to pay in monthly premiums and whether or not you will be able to pay your portion of the healthcare services you need.