What is coinsurance in health insurance?
An example of an AI chatbot conversation about understanding coinsurance in health insurance.
What is coinsurance in health insurance?
Coinsurance is the percentage of costs you pay for covered healthcare services after you've met your deductible.
How does coinsurance work with my deductible?
Once you meet your deductible, you share the costs with your insurance company based on the coinsurance percentage.
Can you give me an example of how coinsurance works?
Sure! If your plan has a 20% coinsurance and your medical bill is $1,000, you pay $200 after your deductible.
Are there any limits on coinsurance payments?
Yes, many plans have an out-of-pocket maximum that limits how much you pay in coinsurance each year.
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