What is the difference between Co-insurance & Co-pay?
A co-insurance is a percentage determined by your insurance plan that you, the patient, will be responsible for once the insurance has processed your claim. For example: “Let’s say your coverage is 90/10 which means you are responsible for 10% of the allowed charges. Therefore, if we ask you, the patient, to pay $10.00 at each visit the $10.00 will be applied to your ending balance, which is undetermined until your insurance processes your claims. A co-pay is a set dollar amount determined by your insurance plan that is due at each visit. For example: “If your insurance plan requires you, the patient, to pay a $15.00 co-pay at each visit this will be due at each visit.
