The "Co-" of Insurance

Today lets review the "co-"s of insurance, as defined by OMB Control Numbers 1545-229, 1210-0147, and 0938-1146.

In-Network Co-insurance:  The percent (for example, 20%) you pay of the allowed amount for covered health care services to providers who contract with your health insurance plan. In-network co-insurance usually costs you less than out of network.

Out of network Co-insurance: The percent (example, 40%) you pay of the allowed amount for covered health care services to providers who do NOT contract with your health insurance plan. Out of network usually costs you MORE than in network co-insurance.

In network Co-payment:  A fixed amount (say, $15) you pay for covered health care services to providers who contract with your health insurance plan. In network copayments are usually LESS than out of network.

Out of network Co-payment: A fixed amount (say $30) you pay for covered health care services from providers who do NOT contract with your health insurance plan. It is usually MORE than in network co-payments.

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Feb 24, 2016
The "Co-" of Insurance