What is a coinsurance cap?

A coinsurance cap is a limit on the amount you have to pay for medical services covered by your health insurance plan in Hawaii. It is the maximum amount of coinsurance you have to pay for any given service. Coinsurance is a type of cost-sharing with your insurance plan; it is the portion of medical expenses that you must pay in order for the insurance company to pay the remaining balance. For example, if your health insurance plan in Hawaii covers 80% of your medical expenses, then you would be responsible for the remaining 20%, or coinsurance. A coinsurance cap would be the maximum amount you could be required to pay for a covered service. It would usually be expressed as a specific dollar amount or a percentage of the total cost. A coinsurance cap helps you budget for medical expenses and protects you from large out-of-pocket costs. It is important to know if your health insurance plan in Hawaii includes a coinsurance cap, how it is calculated, and the maximum amount you could be responsible for. Some insurance plans may not include a coinsurance cap.

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What is a coinsurance cap?

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