Coinsurance.. What is Coinsurance

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What is Coinsurance?

Coinsurance is a percentage you pay for healthcare services up to a certain limit designated in the health insurance policy and can be found in the health plan benefits. Coinsurance is paid after your deductible has been satisfied for the year.

For Example,

Coinsurance 80/20 (You pay 20% of healthcare services up to the coinsurance limit)

Coinsurance limit $10,000

Maximum Coinsurance you pay $2,000

So if you go to the Doctor and your health insurance deductible has been satisfied, and the Dr. visit bill is $100 you pay 20% which equals $20

You may ask why do I have to pay more for healthcare services after I have paid my health care deductible for the year?

Reasons why coinsurance is included in your medical plan

1. Premiums are lower with higher coinsurance and deductibles
2. Coinsurance replaces copays which also leads to lower premiums