What is co-insurance in health insurance?
Co-insurance is an amount paid by the insured person on health and dental claims, expressed as a percentage.
For example, Prescription Drugs may be covered at 80% on your plan. This means 80% is the co-insurance, and you must pay the remaining 20% out-of-pocket.
This is different from a copay (short for copayment), which is a flat fee paid by the insured person for certain health care services.
Most health and dental plans will have some amount of co-insurance, though the percentage will vary. Some plans may also have a copay while others may not.
For example, Prescription Drugs may be covered at 80% on your plan. This means 80% is the co-insurance, and you must pay the remaining 20% out-of-pocket.
This is different from a copay (short for copayment), which is a flat fee paid by the insured person for certain health care services.
Most health and dental plans will have some amount of co-insurance, though the percentage will vary. Some plans may also have a copay while others may not.