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Coninsurance is the amount you are required to pay for medical care in a fee-for-service plan after you have met your deductible. The coinsurance rate is usually expressed as a percentage. For example, if the insurance company pays 80 percent of the claim, you pay 20 percent.

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Q: What does coinsurance on health insurance mean?
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What does PCY on health insurance coinsurance mean?

PCY: Per Calender Year


What does deductible and coinsurance mean?

On a health insurance policy, a "deductible" is a specified amount which the insured/beneficiary must pay out of their own pocket, before their insurance will pay any covered medical services. After the deductible amount is met, a "coinsurance" is a percentage amount which the insured/beneficiary is responsible for. For example, if an insurance policy is an "80/20 plan", this means that the insurance company pays 80% of medical services, and the patient (insured) is responsible to pay the remaining 20% (coinsurance).


How coinsurance work?

Under certain health insurance plans, 'coinsurance' is the percentage of a covered medical expense you may be required to pay after you've paid your copayment and/or deductible. Not all health insurance plans require coinsurance. It's a confusing concept, so here's an example: Joe gets sick and goes to the doctor. He may pay a copayment for his office visit, but if the doctor orders special tests or x-rays, Joe may also be required to pay coinsurance for those tests. Say, for example, that Joe is given an x-ray and the total charge for the x-ray is $100. Even if Joe has already fulfilled his deductible for the year, he may still have to pay coinsurance toward that charge. If his health insurance policy requires 20% coinsurance, Joe will pay $20 toward the total cost of the x-ray, while his health insurance company will pay the remaining $80.


What does coinsurance mean in medical insurance's?

It's secondary or tertiary insurance that is held to cover any medical expenses the primary insurance policy does not cover or does not cover completely.


What does 5 percent default combined medical and drug coinsurance under the deductible section of a health plan mean?

It means that the insurance has a maximum payout combining costs of drugs, hospitals, doctor visits, therapy, etc. Insurance is a business and they want to make money.


If a health care provider accepts Indiana Comprehensive Health Insurance it cannot bill the patient correct?

After the claim is processed the patient will be responsible for any coinsurance, deductible; and any of the insurance companies non-covered services that were rendered. Hope this helps! Evan


What does Health Insurance Provider mean?

Health Insurance Company


If Primary insurance paid more thatsecondary would allow. Is patient responsible for deductible and coinsurance?

Is the patient responsible for deductible and coinsurance if primary insurance paid more than secondary would have allowed.


What is coinsurance?

== == Coinsurance An arrangement under which the insured person pays a fixed percentage of the cost of medical care after the deductible has been paid. For example, a health plan might pay 80% of the allowable charge, with the enrollee responsible for the remaining 20%; the 20% amount is then referred to as the coinsurance amount. Coinsurance maximum This is the maximum dollar amount of Covered Expenses for which the Member is responsible in a Calendar Year. After that maximum is reached, this plan will pay 100% of Covered Expenses incurred during the remainder of that Calendar Year.


Distinguish between co-insurance and reinsurance?

Coinsurance in medical health (casualty) is sharing of costs between insurer and insured, and in property insurance it is were the risk( one risk) is shared between different insurance companies. Reinsurance is insurance for an insurance company, where by an insurance companies seeks for indemnification in case that a stated loss takes place.


What does beneficiary mean for health insurance?

Some health insurance plans offer a AD&D Life Insurance Policy. That is why you would name a beneficiary for a health insurance company.


Is coinsurance required after the deductible is met?

Yes, unless your insurance policy says 100% covered.