Coinsurance refers to which of the following?

Coinsurance is correctly identified as the percentage of costs that a patient shares with their health plan. This cost-sharing mechanism is integral to many health insurance policies, where after the insured individual meets their deductible, they are responsible for paying a certain percentage of the medical costs for covered services. For example, if a policy has a coinsurance rate of 20%, the patient pays 20% of the costs of their care, while the insurance company pays the remaining 80%.

This system helps to spread the financial risk between the insurance provider and the insured and typically encourages patients to make more cost-conscious decisions regarding their healthcare. Each health plan may have different coinsurance rates applicable to various types of services or providers, which makes understanding this component essential for anyone involved in health insurance billing and patient care coordination.

The other options refer to different aspects of health insurance costs, such as the deductible amount, which is the amount a patient must pay before insurance kicks in, or a copayment, which signifies a fixed dollar amount a patient pays for each visit or service. The last option regarding the amount the patient is not responsible for based on insurance provisions does not accurately represent the concept of coinsurance.