What is a coinsurance payment in Medicare?

A coinsurance payment in Medicare is defined as a percentage of the medical costs that beneficiaries are responsible for paying after they have met their deductible. This means that after a beneficiary has paid a set amount out-of-pocket (the deductible), they are required to pay a certain percentage of the remaining costs for covered services.

For example, if a beneficiary has met their deductible and receives a service that costs $100 with a coinsurance rate of 20%, the beneficiary will pay $20, while Medicare would cover the remaining $80. This system helps share the cost of healthcare between the beneficiary and Medicare, encouraging responsible use of healthcare services while also making sure that beneficiaries have some financial responsibility towards their medical expenses.

In contrast, the other options describe different financial aspects of Medicare: a fixed amount paid for a certain service relates to copayments rather than coinsurance, the monthly cost of being enrolled in Medicare refers to premiums, and an annual fee assessed every year might relate to a specific program or policy but does not accurately describe coinsurance.