How is coinsurance defined?
A) the periodic payment the insured is required to make to keep a policy in effect
B) the amount that the insured pays on covered services before benefits begin
C) the percentage of each claim that the insured pays
D) a prepayment covering provider's services for a plan member for a specified period

Question

Quizplus · Accepted Answer

Coinsurance is defined as the percentage of each claim that the insured pays after the deductible has been met. It is a cost-sharing requirement under a health insurance policy that stipulates that the insured will bear a certain percentage of the costs of covered services.

How Is Coinsurance Defined