What is the term for the percentage of medical costs that Lonnie is responsible for under her health insurance policy?

The term for the percentage of medical costs that Lonnie is responsible for under her health insurance policy is referred to as coinsurance payment. Coinsurance represents the portion of healthcare costs that an insured individual must pay after they have met their deductible. For example, after reaching the deductible, the coinsurance arrangement may require Lonnie to pay a certain percentage of the remaining medical expenses, with the insurer covering the rest.

This arrangement is common in many health insurance plans and encourages cost-sharing between the insurance company and the insured. It is crucial for policyholders to understand their coinsurance rates, as this will affect their overall healthcare spending.

In contrast, other terms have different meanings within health insurance. A deductible is the amount that must be paid out-of-pocket before the insurance policy starts covering costs. A copayment is a fixed amount paid for specific services or medications at the time of service. The premium is the regular payment made to maintain the health insurance policy, regardless of whether services are used. Each of these terms plays a vital role in understanding how health insurance plans operate, but only coinsurance refers specifically to the percentage of costs borne by the insured after the deductible has been met.