Since you are relatively young at this point, don't mention any symptoms that might be concerning, don't have a significant family history of colon cancer, going with the fecal test at this point is probably fine. But yes, if it comes back as anything other than normal, you'll have to have the colonoscopy then anyway, and at that point you will have to pay for the colonoscopy beyond whatever insurance picks up because it will be diagnostic rather than routine, but most likely all would be okay.

My mother died from colon cancer and my sister had colon cancer (died from complications for treatment of breast cancer years later). So . . . colonoscopies started at 35 for me (yes, I was symptomatic at 35) and because I always have precancerous polyps when they do the colonoscopy, I'm required to have them done every 3 years. I've only had one bad experience. The prep they chose that time was horrid and coming out of anesthesia was really painful because of the amount of air they had used to get to the polyps they were removing. The other times have been okay. The prep has gotten a bit better over the years -- still the worst part, but I don't get as sick as I used to. It's no fun, but tolerable.

Talk to your doctor about the options and see what he/she recommends for you personally. It's sort of a six one way - half dozen the other sort of thing. The colonoscopy is certainly more invasive but should be covered as routine, and I understand the financial concern.