What does coinsurance after deductible mean ? - YouTube

So what does coinsurance after deductible mean.  

Coinsurance is your share of the cost of a medical  service it's usually figured out as a percentage  

of the total bill amount a health care service  is charged for and you should note that you only  

pay co-insurance after you have paid off your  deductible for example in this current situation  

the deductible is three thousand dollars the total  bill amount is seven thousand dollars so the only  

time when coinsurance gets applicable is after  you have paid the first three thousand dollars  

you share the rest of the cost with the insurance  company based on what your coinsurance is.  

Let's go ahead and take some examples as to  what does 20 after deductible mean or what does  

30 after deductible mean 20 after deductible  basically means that in a situation of a  

seven thousand dollar total bill and a 3000  deductible amount the coinsurance would be  

20 of the remaining amount which is above the  3000 deductible which equals to 4000 in this  

scenario and that equals to 800 dollars or  your share of the payment then becomes the  

original 3000 dollar deductible that you have  plus the 800 dollars that is three thousand  

eight hundred dollars and the remaining amount  seven thousand minus three thousand eight hundred  

dollars which is three thousand two hundred  dollars gets paid by the insurance company  

in the scenario of the thirty coinsurance after  deductible meaning 30 percent coinsurance after  

deductible again taking the same example of 7000  deductible sorry total bill which is the 7000  

dollars total bill and the three thousand dollar  deductible the coinsurance would be thirty percent  

thirty percent of four thousand which is seven  thousand minus three thousand deductible and  

that equals to twelve hundred dollars your  share of the payment of the three thousand  

plus twelve hundred is equal to four thousand two  hundred dollars which and the remaining amount  

which is seven thousand dollars minus 4200  gets paid by the insurance company so as the  

co-insurance amount is increasing your payment  it went up from 3800 to 4200 and the insurance  

companies payment went from 3200 to 2800 and let's  go and check out another percentage which is 40  

after deductible and 50 after deductible  in the scenario of 40 after deductible  

and with the same seven thousand dollar bill  amount and the three thousand dollar deductible  

the coinsurance in this scenario would be forty  percent of the amount that is over and above the  

three thousand dollars that equals to zero point  four times four thousand and that is sixteen  

hundred dollars and your share of the payment  in that scenario becomes the three thousand  

dollars which is the original deductible plus the  sixteen hundred dollars of the coinsurance payment  

that equals to four thousand six hundred dollars  and the remaining amount which is seven thousand  

dollars minus four thousand six hundred dollars  twenty four hundred dollars gets paid by the  

insurance company and finally in the scenario  of 50 coinsurance after deductible for example  

with the same seven thousand dollar total bill  amount and the three thousand dollar deductible  

the co-insurance would be fifty percent off seven  thousand dollars minus the three thousand dollar  

deductible which is fifty percent of four thousand  dollars which equals to two thousand dollars  

your share of the payment becomes three thousand  dollars plus two thousand which is equal to five  

thousand remaining amount which is seven thousand  dollars minus five thousand which equals two  

thousand gets paid by the insurance company  so in these four scenarios that you have seen  

uh which is uh 20 after deductible and 30  after deductible and 50 after deductible  

and 40 after deductible the best situation is when  we have 20 percent coinsurance after deductible  

whereas in the and the worst situation is  50 after deductible which means your out of  

pocket cost is pretty high for a 7000 payment  with that um this uh video about co-insurance  

after deductible ends and thank you for watching  this video i will catch you in the next video