Saturday, April 7, 2012

Temporary health insurance (help...have question!)


I'm planning to switch private health insurance policy in May, to save some $$$ per month.

Am checking out 6-month temporary insurance policies.

I'm confused by the term "coinsurance":

Plan - 6 months

Deductible - $2,500

Coinsurance - 20%

Does "coinsurance" here mean what percentage I pay after the deductible, and they cover the remaining 80% of costs?

Or vice versa? Because I sure don't want to have to pay 80% of a hospital bill!

Thanks for any clarification.

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