Saturday, November 24, 2007

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
Posted by at 4:27 PM
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2 comments:

Andrea said...

Its a new term of which I haven't heard or read earlier. From your post I came to know about it and I am very much impressed with the benefits of this insurance policy that you have talked of. Well I will add it surely to my existing health policy to lower the premiums.
product liability insurance

April 4, 2011 2:40 AM
dorothycoughlan said...

Coninsurance is one of the most misunderstood insurance definitions. Here's a simple way to define coinsurance on both property and health insurance.

September 25, 2011 9:15 PM

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