difference between deductible and coinsurance
Best Answer: A deductible is a set dollar amount, that YOU are responsible to pay every year. You pay 100% of the deductible amount before your insurance will pay anything. The insurance company pays none of your deductible. The deductible is cumulative, & starts over at the beginning of each benefit year. Coinsurance is the portion/percentage you pay for medical services you receive. ie. your coinsurance may be 20%, Leaving the insurance to pay 80%. It simply refers to the percentage you pay for medical services. (After you pay 100% of the deductible, that is.).