Julio's insurance covers 90 percent of his total medical bills, and the remaining 10 percent is his responsibility. The 10 percent is known as

Question

Quizplus · Accepted Answer

The 10 percent that Julio is responsible for paying is known as coinsurance, which is a form of cost sharing between the insurance company and the policyholder. Copayment is a fixed amount that the policyholder pays for a specific healthcare service, while the deductible is the amount the policyholder must pay out of pocket before the insurance company starts covering the costs. The exclusion refers to certain healthcare services or treatments that are not covered by the insurance policy.

Julio's Insurance Covers 90 Percent of His Total Medical Bills