Which term refers to the percentage of costs of a covered health care service you pay after you've paid your deductible?

Which term refers to the percentage of costs of a covered health care service you pay after you've paid your deductible?

• A. Copayment
• B. Deductible
• C. Coinsurance
• D. Premium

Answer: (C)

Coinsurance is the share of the cost you pay for covered services after you’ve met your deductible. It’s expressed as a percentage, so you continue to pay a portion of the bill even once the deductible is satisfied. For example, if your deductible is $1,000 and your coinsurance is 20%, a $5,000 bill would require you to pay $1,000 (the deductible) plus 20% of the remaining $4,000, which is $800, with the insurance covering the rest. This differs from a copayment, which is a fixed dollar amount you pay for a service, from a deductible, which is the upfront amount you must pay before coverage kicks in, and from a premium, which is the regular payment you make to keep your plan active.

Coinsurance is the share of the cost you pay for covered services after you’ve met your deductible. It’s expressed as a percentage, so you continue to pay a portion of the bill even once the deductible is satisfied. For example, if your deductible is $1,000 and your coinsurance is 20%, a $5,000 bill would require you to pay $1,000 (the deductible) plus 20% of the remaining $4,000, which is $800, with the insurance covering the rest. This differs from a copayment, which is a fixed dollar amount you pay for a service, from a deductible, which is the upfront amount you must pay before coverage kicks in, and from a premium, which is the regular payment you make to keep your plan active.