What is Deductible, Coinsurance, Co-pay?

June 24, 2019

 

 

 

A deductible is your yearly dues needed to be satisfied before your insurance will start paying the services. For example, if your deductible for the year is $300, you will need to satisfied the amount by paying your provider during the visit rendered. You will do this each visit until you reach the $300 deductible. For further explanation, you must consult your insurance provider.  

Things to remember: Having health insurance is not a guarantee of payment, anything that is left unpaid will be your responsibility. 

 


 

 

Co-insurance and co-pays are basically the same. These are your financial responsibilities that needed to be paid during the date of services rendered. For example, if your insurance pays 90%, you as a customer will be responsible for the 10%. For further explanation, you must consult your insurance provider.  

Things to remember: Having health insurance is not a guarantee of payment, anything that is left unpaid will be your responsibility.

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