Coinsurance in Medical Billing
Coinsurance is the percentage of medical costs that a patient is responsible for paying after meeting their deductible, with the remaining cost covered by their insurance.
Coinsurance in Medical Billing Explained
In medical billing, coinsurance represents the patient’s share of the cost of a covered service. After the patient has met their deductible, they pay a percentage of the remaining cost, while the insurance company covers the rest. Coinsurance rates vary depending on the insurance plan and type of service.
For example, if a patient has 20% coinsurance for hospital services, they will pay 20% of the total bill after meeting their deductible, while the insurance company covers the remaining 80%.
Find common acronyms and abbreviations in Medical billing glossary.
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