Insurance plans generally have deductibles, co-pays, and/or coinsurances.
- A deductible is an annual expense that you must pay before your insurance benefits can begin.
- Coinsurance is the portion of the total bill, usually set as a percentage, which is the patient’s (or guarantor’s) responsibility to pay.
- A co-pay is a set amount paid each visit, based on your insurance policy. This usually does not count towards your deductible.
For example, on a $500 bill, your deductible might be $150, so you would have to pay the first $150. This leaves a balance of $350. Of the remaining $350, your co-insurance might be 20%, meaning that you will have to pay an additional $70, and your insurance company will pay the remaining $280. Acadia Hospital will file this claim for you. After insurance has been billed, you may receive a bill on any remaining balances.