Coinsurance is a type of cost-sharing between the insured individual and their insurance company. It represents the percentage of medical costs that the patient is required to pay after meeting their deductible. For example, if an insurance plan has a coinsurance rate of 20%, the insurer pays 80% of the covered costs, and the patient pays the remaining 20%. This is a common feature in many health insurance plans, including those that cover nursing care.
