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Coinsurance

Coinsurance is the percentage of each claim above the deductible that you must pay. For example, if you have to pay 20% coinsurance and a $500 deductible on each claim, then you pay the initial $500, then 20% of the covered loss. Typically, after paying 80% of losses up to a predetermined amount, the insurer starts paying 100% of losses.

Other Glossary Terms

• Coinsurance
• Copayment or copay
• Deductible
• Health Maintenance Organization
• Health Savings Account or HSA
• High Deductible Health Plan or HDHP
• HMO
• In-Network
• Out-of-pocket maximum or out-of-pocket limit
• PPO
• Preferred Provider Organization or PPO