What does co-insurance typically require from the insured?

Co-insurance typically requires the insured to pay a percentage of the total medical costs for covered services after the deductible has been met. This means that once the individual has reached their deductible, they share the cost of services with their insurance provider, often at a specified percentage. For example, if the insurance plan stipulates a co-insurance arrangement of 20%, the insured is responsible for paying 20% of the cost of a medical service, while the insurer covers the remaining 80%.

This concept helps to manage costs for both the insurer and the insured. The individual benefits from a lower insurance premium compared to plans with higher co-payments or lower co-insurance percentages, while still being covered for expenses beyond their deductible.

In contrast, full payment upfront pertains to certain medical services or procedures, which may not involve co-insurance. Monthly premium contributions are payments made to maintain the insurance policy but are not directly tied to the cost-sharing structure of co-insurance. A flat fee per visit refers to co-payments, which are distinct from co-insurance as they involve a fixed cost rather than a percentage of total charges.