What do you call the insured person's share of the total cost for care?

What do you call the insured person's share of the total cost for care?

• A. Deductible
• B. Coinsurance
• C. Copayment
• D. Premium

Answer: (B)

The insured person's share of the total cost for care is referred to as coinsurance. In a health insurance context, coinsurance is the percentage of costs that a policyholder must pay for covered healthcare services after they have met their deductible. For example, if a health plan covers 80% of the cost of a procedure, the insured would be responsible for the remaining 20% as coinsurance. This arrangement is designed to encourage individuals to share in the costs of their care, thereby promoting more responsible use of healthcare services. In contrast, the other terms represent different aspects of health insurance costs. A deductible is the amount that the insured must pay out-of-pocket for covered services before the insurance begins to pay. A copayment is a fixed fee that the insured pays for specific services or medications at the time of receiving care. A premium is the amount paid periodically to maintain health insurance coverage, regardless of usage. Each of these terms reflects different responsibilities or costs associated with health insurance, but coinsurance specifically denotes the percentage share after initial cost thresholds are met.

The insured person's share of the total cost for care is referred to as coinsurance. In a health insurance context, coinsurance is the percentage of costs that a policyholder must pay for covered healthcare services after they have met their deductible. For example, if a health plan covers 80% of the cost of a procedure, the insured would be responsible for the remaining 20% as coinsurance. This arrangement is designed to encourage individuals to share in the costs of their care, thereby promoting more responsible use of healthcare services.

In contrast, the other terms represent different aspects of health insurance costs. A deductible is the amount that the insured must pay out-of-pocket for covered services before the insurance begins to pay. A copayment is a fixed fee that the insured pays for specific services or medications at the time of receiving care. A premium is the amount paid periodically to maintain health insurance coverage, regardless of usage. Each of these terms reflects different responsibilities or costs associated with health insurance, but coinsurance specifically denotes the percentage share after initial cost thresholds are met.