What does 80 no deductible mean?

What does 80 no deductible mean?

Coinsurance is the amount of money you are going to pay for covered services assuming you have no deductible. When you go in for a medical procedure, you pay 20 percent of the total cost of the bill, and your health insurance pays 80 percent of the total cost of the bill. Jul 31, 2019

What is an 80/20 deductible?

You have an “80/20” plan. That means your insurance company pays for 80 percent of your costs after you’ve met your deductible. You pay for 20 percent. Coinsurance is different and separate from any copayment.

What should I ask my insurance company?

Start a conversation: 8 questions to ask your insurance agent. What is my deductible? …What is my premium? …What happens if I get in a car accident? …Does my homeowners insurance policy offer enough protection? …Is it time for me to consider life insurance? …Do I have enough liability coverage? …Do I need an umbrella policy? More items… • Jan 6, 2021