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coinsurance related Articles

What’s the difference between insurance deductible, coinsurance, and copay?

Many people are confused about the differences between an insurance  deductible ,  co-pay  and  coinsurance . What are they and how do they differ from each other? In short, all three represent the portion of the medical bill that you are responsible for in case you get sick or injured – otherwise known as out-of-pocket expenses. However, there are some very unique differences between each one, and we are here to help guide you and understand what each word means in detail. Deductible A Continue Reading


The percentage of costs of a covered health care service you pay (20%, for example) after you've paid your deductible. Let's say your health insurance plan's  allowed amount  for an office visit is $100 and your coinsurance is 20%. If you've paid your  deductible : You pay 20% of $100, or $20. The insurance company pays the rest. If you haven't met your deductible: You pay the full allowed amount, $100. Example of coinsurance with high medical costs Let's say the following amounts apply to your Continue Reading


The amount you pay for covered health care services before your insurance plan starts to pay. With a $2,000 deductible, for example, you pay the first $2,000 of covered services yourself. After you pay your deductible, you usually pay only a  copayment  or  coinsurance  for covered services. Your insurance company pays the rest. Many plans pay for certain services, like a checkup or disease management programs, before you've met your deductible. Check your plan details. All Marketplace health Continue Reading