Sentences with phrase «understand coinsurance»

Be sure that you fully understand any coinsurance payments your health insurance plan requires.

I am currently studying to take my New York insurance health insurance exam and was trying to get more information on how to understand coinsurance.

Not exact matches

More than 35 percent of Texans said they didn't understand «maximum out - of - pocket expenses,» and 45 percent didn't understand «coinsurance.»

Signing up was extremely easy, and they make it very easy to understand and customize your coverage - from deductible to coinsurance.

Make sure you understand the limits and deductibles of each policy, along with the copayments and coinsurance for health insurance.

Before we can understand how to calculate a policy's out - of - pocket limit, we must first review some key terms used in the insurance industry, namely: deductible, coinsurance, and stop - loss.

Before you purchase a new policy, it's important to understand exactly what coinsurance is.

Coinsurance (the percentage of costs paid by a patient after paying their deductible) was the term least understood by survey respondents.

Specifically, respondents who used their health insurance plan twice within the last year were more confident in their understanding of deductibles, co-pays, coinsurance and out - of - pocket maximums, compared to those who used their plans just once in the last 12 months.

Although «coinsurance» was the least understood term in the entire survey, more respondents without an employer - paid plan accurately defined it over those with one (24 percent vs. 22 percent).

In fact, our recent survey of 2,000 people found that only 4 percent — just 80 people — overestimate their understanding of key terminologies like deductibles, copays, coinsurance and out - of - pocket maximums.

The percentages covered by each party will be defined in the insurance contract and it's important for policy holders who have coinsurance to understand their obligations under that contract.