Coinsurance:
Cost-sharing arrangement between an insured person and the health insurance company in which the insured person is required to pay a percentage of the cost for the health care services received. Coinsurance typically applies after satisfaction of a deductible. For example, 80% coinsurance may apply after a $500 deductible has been satisfied. This means the insured person pays 20% and their insurance provider pays 80%. The insured will pay that coinurance until they reach thier out of pocket maximum for the year.
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Coinsurance:
Author: AustinJul 30