In health insurance, what term describes the percentage you pay for your health care after meeting your deductible?

Coinsurance is the correct term that refers to the percentage of health care costs that a policyholder is responsible for paying after they have met their deductible. In a typical insurance plan, once the deductible is satisfied, the insurer will cover a portion of the expenses, while the insured will pay the remaining percentage as coinsurance. For example, if your plan specifies 20% coinsurance, you will pay 20% of the eligible medical expenses while the insurance pays the remaining 80%.

In contrast, copayment refers to a fixed amount you pay for a specific service, such as a doctor’s visit or a prescription, regardless of the total cost of the service. The premium is the regular payment made to maintain the insurance policy, and the out-of-pocket maximum is the total amount you are required to pay for covered services in a given year, beyond which the insurer pays 100% of your medical expenses. Understanding these terms is essential for navigating health insurance effectively and managing your healthcare costs.