Be Careful of Values and
Coinsurance Requirements!
Co-Insurance can have a drastic affect on how an insurance loss is valued because not meeting
coinsurance requirements can mean you receive payment based on Actual Cash Value instead of Replacement Cost.
For example, suppose your property policy includes
a coinsurance requirement of 80 percent.
Not exact matches
Generally, more restrictive health plans reward you with lower cost - sharing
requirements, while more permissive health plans require you to pick up a larger part of the bill through higher deductibles,
coinsurance, or copayments.
These
requirements may include a
coinsurance percentage of at least 80 % or insurance that is written on a value reporting basis.
Instead, you're expected to foot the bill for part of the cost of your care through your health plan's cost - sharing
requirements like your deductible, copayments, and
coinsurance.