Coinsurance refers to the percentage of covered expenses that the insured person is responsible for paying. For example, if the coinsurance on a medical procedure is 20%, the insurance company will cover 80% of the cost and the insured will be responsible for the remaining 20%.

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What Is Coinsurance

Question 19

Multiple Choice

What is coinsurance?

A) when both parents have employer-sponsored insurance coverage for their children
B) two insurance companies combine to offer a group policy to an employer
C) the amount an employee has to pay out-of-pocket before the insurance kicks in
D) the percentage of covered expenses paid by the insured

Correct Answer: