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What Is Co-Insurance

uMedMarket Greenville Anderson Seneca Simpsonville Anderson

What Is Co-Insurance?

The Short Answer: Co-Insurance is way to split payment for specific services between you and your insurer. Typically only certain high cost services will have a co-insurance payment, like hospitalization. With a co-insurance amount (usually a percentage of the allowable charge), you will always pay that percentage each time you use that specific service.

The Long Answer:

If you haven’t checked out our blog on co-pays, go take a look at that. Basically, co-insurance is like a co-pay, but a percentage instead of a dollar amount. For example, if my health insurance has 70% co-insurance, that means when I go see the doctor, my health insurance will pay 70% of the total bill and I pay the remaining 30%. So if the total bill is $1000, my insurance will pay $700 and I will have to pay $300.

Sometimes (depending on your plan) the co-insurance percentage will change before and after your deductible. Sometimes the co-insurance values are always the same. This can be misleading because many people think that after they hit their deductible, they don’t pay anything. But, if they have 70% coinsurance that goes beyond the deductible, they will always have to pay that 30%. So sometimes hitting your deductible does not mean everything is covered. You may still have that co-insurance percentage.

However, uMedMarket is simpler. What you see is what you pay. If you want multiple services, you just add up the prices we show you. You get a big discount because you pay cash. It’s uMedMarket. It’s Simple.

Learn More About Insurance And Buying Healthcare Online

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About Cash Discounts In Healthcare

Cash is king because it lowers the cost of providing care.

The doctor doesn’t have to deal with insurance billing, delayed payment or collections. That’s about 25-30% of their overhead.
Our independent providers don’t charge “facility fees” which are allowed by insurers to compensate hospitals for costs associated with operating a hospital.
Our providers are competing for patients against Billion Dollar plus Health conglomerates.

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uMedMarket Greenville Anderson Seneca Simpsonville Anderson

What Is Co-Insurance

Co-Insurance is way to split payment for specific services between you and your insurer. Typically only certain high cost services will have a co-insurance payment, like hospitalization. With a co-insurance amount (usually a percentage of the allowable charge), you will always pay that percentage each time you use that specific service.

Read More »

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