Report post

What is the difference between a copay and coinsurance?

A copay is a set amount of money that you pay any time you receive a specific health care service or prescription. Coinsurance is the percentage of an overall medical bill that your insurance company expects you to pay.

What is a coinsurance policy?

Coinsurance is the amount, generally expressed as a fixed percentage, an insured must pay toward a covered claim after the deductible is satisfied. It is common in health insurance. Some property insurance policies also contain coinsurance provisions.

What is coinsurance in health insurance?

Coinsurance is part of the total amount the health insurance company can require patients to pay in cost-sharing during the year. This is called the out-of-pocket maximum. Deductibles, copays, and coinsurance are included in the amount.

The World's Leading Crypto Trading Platform

Get my welcome gifts