Cost-sharing

Cost-sharing refers to the portion of healthcare expenses that an individual is responsible for paying out of pocket, such as copayments, deductibles, or coinsurance. It helps distribute the financial burden between the insurer and the insured, encouraging responsible use of services. By sharing costs, it also helps keep insurance premiums more affordable. Essentially, cost-sharing means that while your insurance covers many expenses, you still pay a part to help manage overall healthcare costs and prevent unnecessary use of medical services.