What is coinsurance in health insurance?

Can you explain what coinsurance is in health insurance?

Sure! Coinsurance is the percentage of costs you pay for covered healthcare services after you've met your deductible.

How does coinsurance differ from a copayment?

Great question! A copayment is a fixed amount you pay for a service, while coinsurance is a percentage of the total cost.

What are some common coinsurance percentages?

Common coinsurance percentages are often 20%, 30%, or 40%, depending on your health plan.

Does coinsurance apply to all medical services?

Not necessarily. Coinsurance typically applies to most services, but some may have different payment structures.

How can I find out my coinsurance rate?

You can find your coinsurance rate in your health insurance policy documents or by contacting your insurance provider.