Health

What are deductibles in health insurance?

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Deductibles.

Introduction: A deductible is the amount of money a patient has to pay out-of-pocket for covered healthcare services before their health insurance policy starts covering the costs it is also denoted as PR-1. It is a standard feature of most health insurance plans, and it resets annually. Once the deductible is met, the insurer will … Read more

What is Coinsurance in Health Insurance?

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What is Coinsurance in Health Insurance

Coinsurance is the percentage of a medical bill you pay after meeting your deductible. Unlike a copay PR-3, which is a set amount, coinsurance varies as a percentage (%) of the total cost of a service. It is also denoted as PR-2 Once you meet your deductible, coinsurance is what you owe, while the insurance … Read more