coinsurance is not the same as copay. A copay is a set figure you're charged for prescriptions, doctor visits, and other types of health care—generally at the time of service. Your copay applies even if you haven't met your deductible yet. Coinsurance is the percentage of costs of th...
If the insured does not maintain that level of insurance on the property and there is a claim, the insured may be asked to pay a portion of the claim. Coinsurance vs Copay In health insurance, coinsurance is similar to the idea of a co-payment or copay, except that the coinsurance a...
Copay vs Coinsurance: The Difference COPAYCOINSURANCE A set amount people pay for doctor visits or prescription.Co-insurance begins after you have met your deductibles. The cost depends upon the type of care or prescription.The percentage is same for all types of procedures. ...