Key Takeaways
- Coinsurance kicks in after you have met your deductible.
- It is a percentage — e.g., you pay 20% and the insurer pays 80%.
- A Medigap plan can cover your coinsurance share.
Coinsurance is the share of your healthcare costs you are responsible for after you have met your deductible, expressed as a percentage.
For example, say you need a procedure and have already met your deductible for the year. When the bill comes you are responsible for 20% of the cost and your insurer covers the remaining 80% — that 20% is your coinsurance.