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What does 50% coinsurance after deductible mean?

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What does 50% coinsurance after deductible mean?

Postby jaime » Wed Apr 13, 2011 8:50 am

I am trying to apply for health and insurance and it says 50% coinsurance after deductible.
the annual deductible is $3500
what does this mean?
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What does 50% coinsurance after deductible mean?

Postby eames » Wed Apr 13, 2011 8:54 am

It means, AFTER you pay the first $3500 in medical bills every year, you also pay half of the REST of the medical bills. $100,000 of medical bills will leave you paying almost $52,000. Ouch.

It's a crappy plan. It's probably really cheap.
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What does 50% coinsurance after deductible mean?

Postby langley » Wed Apr 13, 2011 8:58 am

It means that after you’ve paid out your full deductible amount for the year, you’ll still have to pay 50% of the bills for the covered medical services in question. Kinda scary. But here are a couple things to keep in mind:

First, not all medical services always apply towards the deductible. The insurance company may cover preventive screenings and tests without you having to pay anything towards the deductible (and without having to pay coinsurance) for those services.

Second, it may be that not all medical services fall under that coinsurance rule. Without more information from you, it’s hard to tell. Some health insurance plans only apply coinsurance to specific types of medical care.

So, if you’re considering this health insurance plan, take a look at those two things. Still, it may not be the best plan for you. If you haven’t already done so, I’d recommend that you work with a licensed agent (online or in your area) – preferably one that represents multiple insurers. It doesn’t cost anything extra to work with an agent and it can go a long way towards helping you find the best match for your personal needs and budget.

Best of luck.
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What does 50% coinsurance after deductible mean?

Postby torrence68 » Wed Apr 13, 2011 9:00 am

A) That means that you pay half the bills after you've paid the first $3500 of your bills.

B) You're obviously not using an insurance broker. Fix that problem first. You shouldn't be "trying" to apply for insurance. You should be consulting with an insurance broker to help you find the right plan. Trying to do it on your own is something fools do. It costs nothing to use a broker and they know about all of the plans you can buy (at least good ones do). If you call Blue Cross, for example, directly -- they will know absolutely nothing about what Kaiser offers. The broker will know what both offers, they've probably been selling insurance longer than the customer service rep at either company, the probably know more about how the policies actually work, AND the price through the broker is EXACTLY the same as buying direct. And, later on, if you end up not liking the broker you can still call the company directly for service.
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What does 50% coinsurance after deductible mean?

Postby heath50 » Wed Apr 13, 2011 9:02 am

Wow..I bet that policy is inexpensive. It means that the first $3,500 of medical expenses each year come out of your pocket. After that, the insurance company will pay 50% of your medical bills - if you have a $100 office visit, they pay $50. You also might want to check if they pay 50% of the full amount or if they use a usual and customary schedule meaning that if the UAC for an office visit is $70 and the doctor charges $100, they pay $35 (50% of the UAC of $70) and you would pay $65 ($100 for the office visit minus the $35 the insurance pays).
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What does 50% coinsurance after deductible mean?

Postby barrlow » Wed Apr 13, 2011 9:10 am

Wow..I bet that policy is inexpensive. It means that the first $3,500 of medical expenses each year come out of your pocket. After that, the insurance company will pay 50% of your medical bills - if you have a $100 office visit, they pay $50. You also might want to check if they pay 50% of the full amount or if they use a usual and customary schedule meaning that if the UAC for an office visit is $70 and the doctor charges $100, they pay $35 (50% of the UAC of $70) and you would pay $65 ($100 for the office visit minus the $35 the insurance pays).
You pay the first $3500 of medical bills and half of the rest.

For example, if there are $10,000 of medical bills, then you pay $3500 plus 1/2 of the other $6500 for a total of $8250, and the insurance company also pays 1/2 of $6500, which is $3250.
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