After that point, if the customer has 20% (or 80/20) coinsurance, that means they will pay 20% of the after-deductible cost of the healthcare claim while the insurance will pay the remaining 80%. So with a remaining balance of $2,000 after the deductible, the customer would pay 20%...
Coinsuranceis the percentage of covered medical expenses you pay after you've met your deductible. Your health insurance plan pays the rest. For example, if you have an "80/20" plan, it means your plan covers 80% and you pay 20%—up until you reach anymaximum out-of-pocketlimit. Still...
ve met your deductible, your coinsurance payment of 20% would be $20 out of pocket. Your insurance would then pay the rest of the allowed amount ($80). Keep in mind, your coinsurance benefit doesn’t apply until after you’ve reached your...
and net income surges to an additional $3 million in the past 5 months. A fire occurs and damages key equipment, and the plant must shut down for 3 months. A business income claim of $2.7 million is filed with the property insurer. What is the net insurance recovery after the deductible?