Co-insurance

Co-insurance refers to the percentage of costs that an insured individual is responsible for paying after meeting their deductible. It is a common term in health insurance and other types of coverage, where both the insurer and the insured share the cost of claims. For example, if your co-insurance is 20%, you pay 20% of the covered expenses while the insurance company pays the remaining 80%. Understanding co-insurance helps you manage your out-of-pocket expenses and choose the right insurance plan for your needs.