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.
Insurance rates are regulated by law. You can't find the same insurance plan for a lower price anywhere else