Co Insurance

Confused about how your health insurance plan works. What’s the difference between the deductible coinsurance out-of-pocket maximum? How do they all work together? Well, first and foremost, whenever you have a major event, we’ll just say you had a $20,000 broken leg. You’re gonna be on the hook for the first portion, which is your deductible. If that’s $2,000 a year on the hook for the first $2,000.

That’s phase one. Phase two is what’s called colon surance. That’s going to be 8020 percentage 7030. That means that the insurance company is going to pay 80%. You’re going to pay 20%. That’s co-insurance phase. So that’s a percentage base. Now the combination of deductible plus co-insurance will combine to what’s be what’s called out-of-pocket maximum. That’s important because once you reach between deductible and co-insurance it reaches 100%.

The insurance company picks up the tab. Beyond. So understanding co-insurance is really important. Call us if you need help.