What is coinsurance?
Answer provided by a licensed Insurance advisorLicensed U.S. Insurance Specialist at VisitorsCoverage
Co-insurance is when the insured and insurance company both pay part of the medical bill. It is the percentage of eligible expenses that the insured is responsible for after the deductible. For example: If you choose a plan that has an 80% coverage, this would make your co-insurance 20%. If you incur a bill of $100, your insurance will cover $80 and you will be responsible for the remaining $20.
Disclaimer: Information is for general purposes and updated regularly based on provider guidelines. For binding terms, review your specific Policy Brochure.
Was this answer helpful?
Views: 2,103Couldn't find an answer to your question?
Our Customer Success Team of licensed insurance specialists can help. Just click the button and submit your question. Our experts will typically respond within 48 hours.
