Deductibles, copayments, coinsurance, and out-of-pocket limits are examples of what?

The correct answer is that deductibles, copayments, coinsurance, and out-of-pocket limits are examples of cost sharing. Cost sharing refers to the way that costs are divided between the insurance provider and the policyholder when accessing healthcare services.

Deductibles are the amounts that a policyholder must pay out-of-pocket before their health insurance starts to cover expenses. Copayments are fixed amounts that a policyholder pays for specific services or prescriptions at the time of care. Coinsurance is the percentage of costs for covered healthcare services that the policyholder shares with the insurance company after their deductible has been met. Out-of-pocket limits refer to the maximum amount a policyholder will pay for covered services in a plan year, after which the insurance pays 100% of covered costs.

These components are essential to understanding how healthcare expenses are shared between insurers and consumers, impacting the overall affordability of healthcare services. Options referring to penalties or essential health benefits do not pertain directly to the costs shared when utilizing health services, which is reflected in the definition and function of cost sharing as highlighted.