Co insurance意思

"Co insurance" is a term commonly used in the insurance industry, particularly in the context of health insurance. It refers to a situation where both the insurance company and the insured person share the financial responsibility for covered medical expenses.

In a co-insurance arrangement, the insured person is typically responsible for a certain percentage of the covered medical costs, while the insurance company covers the remaining percentage. For example, if a health insurance plan has an 80/20 co-insurance, the insurance company will cover 80% of the eligible costs, and the insured person will pay the remaining 20%.

Co-insurance is different from a copayment (or copay), which is a fixed amount the insured person pays for each visit or service, regardless of the total cost. With co-insurance, the percentage amount can vary depending on the specific plan details and the type of service received.

Co-insurance can apply to both in-network and out-of-network providers, although the terms of coverage may differ. It is an important factor to consider when choosing a health insurance plan, as it can significantly affect the out-of-pocket costs for medical services.