What type of payment involves sharing costs between an insurer and insured after a deductible is met?

Coinsurance refers to the arrangement where the costs of healthcare services are shared between the insurer and the insured after the insured has met their deductible. Under this model, once the deductible is satisfied, the insured typically pays a certain percentage of the medical expenses, while the insurer covers the remaining percentage. This payment structure encourages both parties to be mindful of healthcare costs and promotes shared responsibility for medical expenses.

In contrast, a co-payment is a fixed amount the insured pays for a specific service or prescription, regardless of the deductible status. A premium is the regular payment made to maintain health insurance coverage and does not involve sharing costs after services are rendered. An out-of-pocket maximum represents the most an insured will pay for covered health care services in a given year, after which the insurer covers 100% of the costs for covered services, but does not directly relate to the payment sharing structure that coinsurance provides.