Coinsurance is an amount of the cost of a Michigan medical service that you are responsible for paying. Unlike a co-payment, which is a fixed-dollar amount, coinsurance is expressed as a percentage. For example, many insurance plans have 20% coinsurance of the next 10,000 after deductible for hospital costs, meaning you pay 20% of the total cost of a trip to the hospital.

Originally posted 2009-07-31 18:38:42. Republished by Blog Post Promoter