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

Question

Quizplus · Accepted Answer

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 between the insured individual and the insurance company. The insured pays a percentage of the total costs and the insurance company pays the remaining percentage. The percentage that the insured pays is usually capped at a certain dollar amount or limit.

Sophie Bennett Is Required to Pay 20 Percent of Her