MANAGEMENT

Detailed explanation-1: -Coinsurance refers to the amount of medical expenses you, as a policyholder, have to start paying after you have met your deductibles (the fixed amount you have to pay to your insurer before the policy can kick–start).

Detailed explanation-2: -Example of coinsurance with high medical costs Allowable costs are $12, 000. You’d pay all of the first $3, 000 (your deductible). You’ll pay 20% of the remaining $9, 000, or $1, 800 (your coinsurance). So your total out-of-pocket costs would be $4, 800-your $3, 000 deductible plus your $1, 800 coinsurance.

Detailed explanation-3: -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. A fixed amount ($20, for example) you pay for a covered health care service after you’ve paid your deductible.

Detailed explanation-4: -Coinsurance is a percentage of a medical charge you pay, with the rest paid by your health insurance plan, which typically applies after your deductible has been met. For example, if you have 20% coinsurance, you pay 20% of each medical bill, and your health insurance will cover 80%.

Detailed explanation-5: -A deductible is the amount you pay for coverage services before your health plan kicks in. After you meet your deductible, you pay a percentage of health care expenses known as coinsurance. It’s like when friends in a carpool cover a portion of the gas, and you, the driver, also pay a portion.