coinsurance

American  

[koh-in-shoor-uhns, -shur-] / ˌkoʊ ɪnˈʃʊər əns, -ˈʃɜr- /

noun

1. insurance underwritten jointly with another or others.

2. a form of property insurance in which an insurer assumes liability only for that proportion of a loss which the amount of insurance bears to a specified percentage of the value of the property.

3. 1. a form of health insurance in which the insured party contributes a specified percentage of the total cost of medical expenses after a deductible has been reached.

   2. the percentage contributed by the insured party.

      My coinsurance is 20%.

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coinsurance British  

/ -ˈʃɔː-, ˌkəʊɪnˈʃʊərəns /

noun

1. a method of insurance by which property is insured for a certain percentage of its value by a commercial insurance policy while the owner assumes liability for the remainder

2. joint insurance held by two or more persons

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Etymology

Origin of coinsurance

First recorded in 1885–90; co- + insurance

Example Sentences

Patients with deductibles or coinsurance then get hit with out-of-pocket costs tied to that inflated list price, while the rebate money flows back to insurers or employers to lower premiums for the broader pool.

From The Wall Street Journal

The health plan could waive the coinsurance if the employee agrees to pay for the drug directly with the HRA account.

From The Wall Street Journal

There might not be an upfront premium, but there could be copays and coinsurance.

From MarketWatch

Almost all Medicare recipients do this, because there are no out-of-pocket maximums with Medicare, so costs for copays and coinsurance could otherwise be infinite.

From MarketWatch

Also, in a number of plans, medications that now come with a flat copayment will next year require “coinsurance,” a charge that represents a percentage of the medication’s total cost.

From The Wall Street Journal