Sophie Bennett is required to pay 20 percent of her medical costs up to a stated dollar limit. What is this requirement called?

Question

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The requirement for Sophie Bennett to pay 20 percent of her medical costs up to a stated dollar limit is called coinsurance. Coinsurance is a cost-sharing provision in health insurance plans in which an individual pays a percentage of the cost of medical treatment after the deductible has been met. In this case, Sophie must pay 20 percent of her medical costs, and the insurance company will pay the remaining 80 percent, up to a certain limit.

Sophie Bennett Is Required to Pay 20 Percent of Her