coinsurance

How to Calculate Coinsurance?

Calculating coinsurance is straightforward but requires knowing the total cost of the service and the coinsurance rate. Here's an example:
1. Total Cost: $2,000
2. Coinsurance Rate: 20%
3. Patient's Share: $2,000 * 0.20 = $400
4. Insurance Share: $2,000 - $400 = $1,600
So, in this case, the patient would pay $400, and the insurance would cover $1,600.

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