In a Major Medical policy with an 80/20 coinsurance, after the deductible is satisfied, what percentage of eligible expenses is typically paid by the insurer?

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Study for the Medical Expense Insurance Exam. Prepare with flashcards and multiple-choice questions; each has hints and explanations. Ace your exam!

Multiple Choice

In a Major Medical policy with an 80/20 coinsurance, after the deductible is satisfied, what percentage of eligible expenses is typically paid by the insurer?

Explanation:
Coinsurance after the deductible is met: in a Major Medical policy with an 80/20 arrangement, once you’ve satisfied the deductible, the insurer pays 80% of eligible (covered) expenses and you pay 20% until you hit the out-of-pocket maximum. For example, if a covered bill is $1,000 and the deductible is already satisfied, the insurer would cover $800 and you would owe $200.

Coinsurance after the deductible is met: in a Major Medical policy with an 80/20 arrangement, once you’ve satisfied the deductible, the insurer pays 80% of eligible (covered) expenses and you pay 20% until you hit the out-of-pocket maximum. For example, if a covered bill is $1,000 and the deductible is already satisfied, the insurer would cover $800 and you would owe $200.

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