What is Coinsurance?
Coinsurance is the term used by health insurance companies to refer to the amount
that you are required to pay for a medical claim, apart from any co-payments or
deductible. For example, if your health insurance plan has a 20% coinsurance requirement
(and does not have any additional co-payment or deductible requirements), then a
$100 medical bill would cost you $20, and the insurance company would pay the remaining
$80.