What is a coinsurance rate?

A coinsurance rate is a type of cost sharing that patients must pay when they receive medical care services. When someone has health insurance, their insurer typically covers a certain percentage of the costs associated with that care, while the patient pays the rest in the form of coinsurance. The coinsurance rate is the percentage of eligible medical expenses the patient is responsible for paying out-of-pocket. This rate is determined by the terms of the health insurance policy and may vary from one plan to another. In Washington, coinsurance rates are typically in the range of 10-30%. This means that if a patient receives a service that costs $100, they would be responsible for paying 10-30% of that cost while the insurer covers the rest. Some plans may have a coinsurance rate as low as 0% if the service is a preventive care service that is covered by the plan. It is important to check the terms of your health insurance policy to determine your coinsurance rate so that you know what portion of the cost of care must be paid out of pocket.

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