The ________ is a form of cost sharing between patient and the insurance plan and is enforced after the deductible is met.
Understand the Problem
The question is asking for a term that describes a specific type of cost sharing between a patient and their insurance plan, which occurs after a deductible has been paid. Based on the provided options, it requires identifying the correct financial term used in health insurance.
Answer
Coinsurance
The final answer is Coinsurance.
Answer for screen readers
The final answer is Coinsurance.
More Information
Coinsurance is a type of cost sharing where the insurance company and the policyholder split the costs of covered services after the deductible is met.
Tips
A common mistake is confusing copayment and coinsurance, as both involve payment after the deductible. However, copayments are fixed amounts, while coinsurance is a percentage of costs.
Sources
- Health insurance terms you should know - CMS - cms.gov
- Understanding Cost Sharing: Deductibles, Copayments ... - healthychildren.org
AI-generated content may contain errors. Please verify critical information
