Which term describes the percentage of healthcare costs an insured person must cover after meeting their deductible?

The concept described in the question is accurately represented by the term "coinsurance." Coinsurance is the portion of healthcare expenses that an insured person is responsible for paying after they have satisfied their deductible. Typically, this is expressed as a percentage. For example, if a health insurance plan has a coinsurance of 20%, the insured individual pays 20% of the covered healthcare costs, while the insurance company covers the remaining 80%. This arrangement is designed to share the financial risk between the insurer and the insured, encouraging responsible usage of healthcare services.

In contrast, the other terms refer to different aspects of health insurance. A copay is a fixed fee that an insured individual pays for specific services or prescriptions, which is distinct from the percentage-based approach of coinsurance. The premium is the regular payment made to maintain the insurance policy and does not directly relate to the cost-sharing structure after deductibles. Lastly, the deductible is the amount that an insured must pay out of pocket before the insurance begins to contribute, but it does not describe the post-deductible cost-sharing arrangement. Understanding these distinctions is crucial for navigating health insurance plans effectively.