DEDUCTIBLES AND COINSURANCE
\dɪdˈʌktəbə͡lz and kˈɔ͡ɪnʃʊ͡əɹəns], \dɪdˈʌktəbəlz and kˈɔɪnʃʊəɹəns], \d_ɪ_d_ˈʌ_k_t_ə_b_əl_z a_n_d k_ˈɔɪ_n_ʃ_ʊə_ɹ_ə_n_s]\
Definitions of DEDUCTIBLES AND COINSURANCE
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Cost-sharing mechanisms that provide for payment by the insured of some portion of covered expenses. Deductibles are the amounts paid by the insured under a health insurance contract before benefits become payable; coinsurance is the provision under which the insured pays part of the medical bill, usually according to a fixed percentage, when benefits become payable.
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