What does it mean to pay 30\% coinsurance?

Coinsurance is your share of the costs of a health care service. When you go to the doctor, instead of paying all costs, you and your plan share the cost. For example, your plan pays 70 percent. The 30 percent you pay is your coinsurance.

What does coinsurance mean?

Coinsurance is the amount you pay for covered health care after you meet your deductible. This amount is a percentage of the total cost of care—for example, 20\%—and your Blue Cross plan covers the rest.

What does deductible and coinsurance mean?

Coinsurance is the percentage of costs you pay after you’ve met your deductible. A deductible is the set amount you pay for medical services and prescriptions before your coinsurance kicks in fully. Out-of-pocket expenses are the medical expenses you must pay yourself.

Why do I have to pay deductible and coinsurance?

Many health plans require members to pay both a deductible and coinsurance if they need various types of medical care. Deductible and coinsurance are types of health insurance cost-sharing; you pay part of the cost of your health care, and your health plan pays part of the cost of your care.

Is coinsurance always after deductible?

Deductible: The deductible is how much you pay before your health insurance starts to cover a larger portion of your bills. Coinsurance: Coinsurance is a percentage of a medical charge that you pay, with the rest paid by your health insurance plan, that typically applies after your deductible has been met.

Do you still pay coinsurance after deductible?

Example of coinsurance with high medical costs Let’s say the following amounts apply to your plan and you need a lot of treatment for a serious condition. Allowable costs are $12,000. You’d pay all of the first $3,000 (your deductible). You’ll pay 20\% of the remaining $9,000, or $1,800 (your coinsurance).

How does coinsurance after deductible work?

The percentage of costs of a covered health care service you pay (20\%, for example) after you’ve paid your deductible. If you’ve paid your deductible: You pay 20\% of $100, or $20. The insurance company pays the rest.

Is coinsurance better than copay?

Usually, you’ll pay less coinsurance with a plan that comes with a cheaper health insurance monthly premium. Since copays typically do not count toward health insurance deductibles or out-of-pocket maximums, you should consider these costs when comparing plans.