Cost Sharing

DEFINITION

The share of medical costs covered by your insurance that you pay out of your own pocket. This term generally includes deductibles, coinsurance, and copayments, or similar charges, but it doesn't include premiums or the cost of non-covered services. Cost sharing in Medicaid and CHIP also includes premiums.

EXAMPLE

This term encompses all the different types of ways and individual contributes some payment to the insurance plan. ****