Co-insurance
Your slice of the health care bill pie! It's the portion you chip in, calculated as a percentage—say, 20%—of the total allowed cost for a covered service. Think of it as your team effort in tackling the health expenses!
Detailed Explanation
After you've met your deductible, your insurance company will typically pay a portion of the cost for covered services, and you will pay the remaining percentage as co-insurance.
Practical Example
Let's say your plan has a 20% co-insurance for specialist visits. After you've paid your deductible, if a specialist visit costs $200 (the allowed amount), your insurance will pay $160, and you will pay the remaining $40 as co-insurance.
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