Coinsurance
By: iWebQuotes.com -
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A method of cost-sharing in a health insurance policy that requires the insured to pay a pre-determined percentage of all remaining eligible medical expenses after the deductible amount has been paid.
Example: If you have a plan which pays 80/20, this means the insurance company is responsible for 80% of all covered expenses and you will be responsible for 20%. The 20% is your coinsurance amount.
Coinsurance varies from plan to plan. It may also vary depending on whether you use network or non-network providers.