Co-Insurance
 |
Definition of 'Co-Insurance'A co-sharing agreement between the insured and the insurer under a health insurance policy which provides that the insured will cover a set percentage of the covered costs after the deductible has been paid. Similar to co-pay insurance plans except co-pays require the insured to pay a set dollar amount at the time the service is rendered. |
 |
Investopedia explains 'Co-Insurance'For example, an 80/20 coinsurance plan with a $300 deductible requires the insured to pay 20% of the covered costs after the deductible as been paid, while the insurance company will be liable for the remaining 80%. Today, with the growing cost of prescription drugs and medical expenses, more and more employers have switched from co-pay plans to coinsurance plans to reduce employee-benefit costs. |
Related Definitions
Articles Of Interest
-
What Does Medicare Cover?
Don't assume you're insured. Find out what you can expect from this healthcare program. -
Taking The Surprise Out Of Long-Term Care
Don't be caught unprepared - find out what to look for in LTC insurance policies. -
Long-Term Care Insurance: Who Needs It?
No one is immune to the possibility of one day needing long-term care - and the costs can deplete a life savings. -
Life Insurance: Putting A Price On Peace Of Mind
Would your death leave loved ones financially stranded? Find out how to ease your mind and keep them protected. -
Broker Commissions Are Here To Stay
With two developed nations adopting a firm anti-commission stance, questions have arisen over whether or not the United States should follow suit. Find out why such a development is unlikely. -
10 Great Summer Jobs For Teens
There are a lot of summer jobs out there, find out what's available, how much it costs and what skills you need. -
An Introduction To The Keogh Retirement Plan
Learn more about this popular defined-contribution retirement plan that many business owners, proprietors, and self-employed people can benefit from. -
Playoff Perks For Pro Athletes
If personal pride, a stellar resume and increased job security aren't enough incentive for some pro athletes, each league has reserved a bit of lunch money to up the ante and help tide athletes ... -
Retirement: The One Thing Couples Shouldn't Do Together
Staggering retirement can have both financial and emotional benefits for married couples. -
5 ETFs Flaws You Shouldn't Overlook
Despite their popularity, exchange traded funds have some drawbacks that investors should know about.
Free Annual Reports
