Answer :
Answer:
The correct answer is B. Coinsurance
Explanation:
It is the percentage of the costs of medical care that an insured patient pays after reaching the annual deductible of the health care plan. For example, an 80/20 coinsurance rate means that the insurance company pays 80% of the approved health care costs, and the patient pays the remaining 20% in cash.
Answer:
B. Coinsurance
Explanation:
Whilst an insurance is an arrangement in which an insurer agrees to indemnify another party (the insured) for damages or loss of an item in exchange for a fee known as insurance premium, Coinsurance is an amount the insured must pay against a claim.
It is usually expressed as a percentage of the loss. The insurer is expected to pay the remaining amount.
Hence Coinsurance requires an insurance policyholder to pay a percentage of a loss, and the insurance company pays the remaining cost.