Final answer:
The costs for insurance coverage paid by the policyholder are called premiums, which are different from other costs like deductibles, copayments, or coinsurance that the policyholder may also be responsible for.
Step-by-step explanation:
The costs for insurance coverage that are paid by the policyholder are known as premiums. Premiums are the regular payment made to an insurance company in exchange for the insurance coverage. In addition to premiums, there are other costs such as deductibles, copayments, and coinsurance that the policyholder may be responsible for. A deductible is the amount the policyholder must pay out-of-pocket before the insurance coverage kicks in. Copayments are fixed fees that a policyholder pays for receiving specific services, while coinsurance is a percentage of the costs that the insured must cover.