Which insurance term describes the portion of medical costs paid by the patient after insurance pays?

Elevate your medical career by mastering the CalRegional Medical Assistant Exam with our specially designed quizzes, flashcards, and hints that equip you for success. Dive into our study materials and gain confidence for exam day!

Coinsurance refers to the portion of the medical bill you pay after the insurance company has paid its share. It’s typically a percentage of the allowed amount for covered services, so your out-of-pocket cost varies with the price of the service. Copayments are fixed dollar amounts you pay at the time of service, deductibles are the amounts you must pay before coverage kicks in, and premiums are the regular payments you make to maintain the plan. With coinsurance, you share costs with the insurer according to that percentage until you reach your out-of-pocket maximum.