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What is health insurance coinsurance?

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Once you’ve met your deductible, the insurance company will begin to share in the cost of your medical bills. In addition to the deductibles, you typically will have to make a copayment or pay coinsurance.

Coinsurance is the percentage of the cost that you're responsible for. Say your coinsurance is 20%. For a medical service that costs $400, you'll have to pay $80. The insurance company pays the rest.

From: How to Use Your Health Insurance WebMD Medical Reference

SOURCES:

Institute of Medicine: "Helping Consumers Understand and Use Health Insurance in 2014." 

Institute of Medicine: "Let's Ask 4?s"

Reviewed by Amita Shroff on July 16, 2018

SOURCES:

Institute of Medicine: "Helping Consumers Understand and Use Health Insurance in 2014." 

Institute of Medicine: "Let's Ask 4?s"

Reviewed by Amita Shroff on July 16, 2018

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