Definition
Your share of the costs of a covered healthcare service, calculated as a percentage of the allowed amount. For example, if your coinsurance is 20%, you pay 20% of each medical bill after meeting your deductible, and your insurance pays the remaining 80%.
Related Terms
- Deductible
The amount you must pay out of pocket for covered healthcare services before you...
- Copay
A fixed amount you pay for a covered healthcare service after you have met your ...
- Out-of-Pocket Maximum
The most you have to pay for covered services in a plan year. After you spend th...
- Premium
The amount you pay each month for your health insurance coverage, regardless of ...
- Pre-Authorization
A requirement that your health insurer approve a medical service, procedure, or ...
Understanding healthcare terminology helps you communicate more effectively with providers and make informed decisions about your care. Use our procedure cost database to find fair prices for any medical service.