coinsurance

noun

co·​in·​sur·​ance ˌkō-ən-ˈshu̇r-ən(t)s How to pronounce coinsurance (audio)
 also  -ˈin-ˌshu̇r-
1
: joint assumption of risk (as by two underwriters) with another
2
: insurance (such as fire insurance) in which the insured is obligated to maintain coverage on a risk at a stipulated percentage of its total value or in the event of loss suffer a penalty in proportion to the deficiency
3
: health insurance in which the insured is required to pay a fixed percentage of the cost of medical expenses after the deductible has been paid and the insurer pays the remaining expenses
Coinsurance is not a new idea—Americans who grew up in the era before managed care will remember their parents paying 20% of the costs of office visits, tests, and prescriptions.Thomas H. Lee et al.

Examples of coinsurance in a Sentence

Recent Examples on the Web Your portion of the cost-sharing can include deductibles, copayments, and/or coinsurance. Elizabeth Davis, Verywell Health, 27 Feb. 2024 Medicaid also offers more robust coverage with minimal cost-sharing requirements such as copayments, coinsurance and deductibles that are common with ACA plans. Ken Alltucker, USA TODAY, 14 Jan. 2024 Medicare bans drug company coinsurance assistance on similar reasoning. John Wilkerson, STAT, 29 Nov. 2023 Ashley Bach, a Regence spokesperson, confirmed to KHN that both stays now will be covered as emergency, in-network services, eliminating Swedish’s coinsurance charges. Kaiser Health News, oregonlive, 2 Mar. 2023 Previously, the practice was only allowed when drug companies give coinsurance assistance for brand drugs with generic competition. John Wilkerson, STAT, 17 Jan. 2024 Deductibles, copayments, and coinsurance are all types of cost-sharing. Elaine Hinzey, Verywell Health, 17 Dec. 2023 At issue is a health insurance industry practice of not counting drug company coinsurance assistance toward a patient’s out-of-pocket costs. John Wilkerson, STAT, 29 Nov. 2023 Be sure to note whether prescriptions require a copayment, which is a flat dollar amount, or coinsurance, which is a percentage of the drug cost. Julie Appleby, CBS News, 16 Oct. 2023

These examples are programmatically compiled from various online sources to illustrate current usage of the word 'coinsurance.' Any opinions expressed in the examples do not represent those of Merriam-Webster or its editors. Send us feedback about these examples.

Word History

First Known Use

circa 1889, in the meaning defined at sense 1

Time Traveler
The first known use of coinsurance was circa 1889

Dictionary Entries Near coinsurance

Cite this Entry

“Coinsurance.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/coinsurance. Accessed 29 Mar. 2024.

Medical Definition

: health insurance in which an insurer requires the insured to pay a fixed percentage of the cost of medical expenses after the deductible has been paid and with the insurer to pay the remaining expenses
Coinsurance is not a new idea—Americans who grew up in the era before managed care will remember their parents paying 20% of the costs of office visits, tests, and prescriptions.Thomas H. Lee et al., The New England Journal of Medicine

Legal Definition

coinsurance

noun
1
: joint assumption of risk (as by two underwriters) with another
2
: insurance (as fire insurance) in which the insured is obligated to maintain coverage on a risk at a stipulated percentage of its total value or in the event of loss to suffer a penalty in proportion to the deficiency

More from Merriam-Webster on coinsurance

Last Updated: - Updated example sentences
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