Which term describes the portion of medical costs paid by the patient after insurance pays, a form of cost sharing?

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Multiple Choice

Which term describes the portion of medical costs paid by the patient after insurance pays, a form of cost sharing?

In health insurance, cost sharing includes amounts you pay beyond the premium. The term described is coinsurance. It’s the percentage of covered medical expenses that you pay after the insurer has paid their share (and typically after any deductible has been met). For example, if your plan has 20% coinsurance on a $1,000 bill and you’ve met the deductible, you would pay $200 while the insurer would cover $800. This differs from a copayment, which is a fixed amount you pay at the time of service, regardless of the total cost. The deductible is the amount you must pay out of pocket before the insurer starts sharing costs. The premium is the regular amount you pay to maintain the policy, not tied to a specific service.

In health insurance, cost sharing includes amounts you pay beyond the premium. The term described is coinsurance. It’s the percentage of covered medical expenses that you pay after the insurer has paid their share (and typically after any deductible has been met). For example, if your plan has 20% coinsurance on a $1,000 bill and you’ve met the deductible, you would pay $200 while the insurer would cover $800.

This differs from a copayment, which is a fixed amount you pay at the time of service, regardless of the total cost. The deductible is the amount you must pay out of pocket before the insurer starts sharing costs. The premium is the regular amount you pay to maintain the policy, not tied to a specific service.

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