What is coinsurance

[mandarin.orange]

Our current plan says 100% coinsurance, and once we met the deductible, insurance covered everything except copays. No coinsurance was charged. Does that mean 100% coinsurance = insurance pays all after deductible? I'm having troubles understanding what's been happening, really. Hoping for some insights from someone with experience.

 

[Toredo_]

Yeah, 100% coinsurance usually means once you hit your deductible, insurance covers everything except copays and no surprise bills after that, just fixed copays, depending on the service.

 

[Fisk_1]

What does your summary of benefits say about coinsurance, does it clearly define what's covered after the deductible and list any exceptions beyond just copays?

 

[WM.Genee]

Our current plan says 100% coinsurance, and once we met the deductible, insurance covered everything except copays. No coinsurance was charged. Does that mean 100% coinsurance = insurance pays all after deductible? I'm having troubles understanding what's been happening, really. Hoping for some insights from someone with experience.

It's confusing wording, and many plans are structured that way!
100% coinsurance actually means you pay 100% of the costs after your deductible until your out-of-pocket maximum is reached.
So essentially, your insurance company pays nothing for those services.
But what you described sounds like a plan with 0% insurance which is great!
Try contacting your insurance company directly for better clarification!

 

[PremiumNavigator]

I remember having a similar setup a few years back when I was working a union job. Once I hit that deductible, it was smooth sailing with just flat copays after that, no annoying coinsurance popping up. Definitely a good idea to give your plan documents another look, just to be sure everything lines up. You don't want any surprises when it comes to medical bills

 

[InsureMeNow]

I once had a temporary job where the health insurance operated just like that, after I hit the deductible, all I had to pay was a set fee for each visit, and that was it. It took me a bit to grasp it fully, but it's a pretty straightforward setup. I'd recommend checking the fine print just to be sure, but it sounds like your arrangement might actually be one of the better options out there