Coinsurance on a health insurance policy is actually a relatively straight-forward concept.
If coinsurance is listed in the coverages of your health insurance policy the coinsurance percentage listed is the percent of the benefit expense which you the insured is responsible for.
The common coinsurance percentages seen on a health insurance policy are 10% or 20%.
If you have 10% coinsurance and $100 health bill. You as the insured owe $10. On most policies it’s that simple.
Watch this video “What is coinsurance and how does it affect my health insurance?” for more details:
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This is video #40 of a one hundred insurance video series that The Murray Group is producing to provide insurance consumers with quick, valuable answers to their everyday insurance questions.
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created by Ryan Hanley