How does my deductible and coinsurance work?
Example: Let’s say you have incurred an eligible claim for $3,000 and your plan has a $1,000 deductible with 80/20 coinsurance:
- $1,000 = deductible paid by you
- $1,600 = paid by health insurance plan (80% of the remaining $2,000)
- $400 = paid by you (20% of the remaining $2,000)
Your responsibility = $1,400
Health insurance plan responsibility = $1,600.
Copayments do not apply towards the deductible.