coinsurance

noun co·in·sur·ance \ ˌkō-ən-ˈshu̇r-ən(t)s also -ˈin-ˌshu̇r- \

Updated on: 14 Apr 2018

Definition of coinsurance

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.

Recent Examples of coinsurance from the Web

More than $5 billion of those savings benefit patients through lower deductible and coinsurance payments.

— kaiser health news, Washington Post, "Readers Seek Transparency On Surgery Centers, ‘Bill Of The Month’ Investigations," 28 Mar. 2018
Prescription copay/coinsurance tiers represent the level of payment for which a patient is responsible.

— cathy cunningham, chicagotribune.com, "Column: Why are so many more medications not covered by insurance?," 21 Mar. 2018
Since under this particular plan the coinsurance is 10 percent, that also reveals the reimbursement rate by the insurance company.

— jeanne pinder, Philly.com, "Philly Health Costs: Frequently Asked Questions," 20 Feb. 2018
Benefits include low-deductible medical plans with no coinsurance and Dependent Care Flexible Spending Accounts for childcare and medical expenses.

— lori johnston, ajc, "Top Workplaces: Meet the remaining top five large companies," 1 Mar. 2018
Also, with rising deductibles and rising coinsurance, much more of the price is being paid by insured people.

— jeanne pinder, Philly.com, "Philly Health Costs: Frequently Asked Questions," 20 Feb. 2018
Silver-plan surcharge Nearly half of Covered California enrollees qualify for cost-sharing subsidies, which lower their copays, deductibles and coinsurance.

— emily bazar, sacbee, "Acute confusion as exchange enrollment nears," 30 Oct. 2017
Flu vaccination must be covered by insurance without a copay or coinsurance thanks to the Affordable Care Act.

— brie zeltner, cleveland.com, "Flu season is here: Have you gotten your vaccination?," 26 Oct. 2017
Medigap policies cover charges such as deductibles, coinsurance and copayments that seniors with Medicare coverage are expected to pay out-of-pocket.

— judith graham, chicagotribune.com, "Medicare vs. Medicare Advantage: How to choose," 24 Oct. 2017

These example sentences are selected automatically from various online news sources to reflect current usage of the word 'coinsurance.' Views expressed in the examples do not represent the opinion of Merriam-Webster or its editors. Send us feedback.

First Known Use of coinsurance

circa 1889

Medical Dictionary

coinsurance

noun co·in·sur·ance \ ˌkō-ən-ˈshu̇r-ən(t)s, -ˈshər- also -ˈin-ˌshu̇r-, -ˌshər- \

medical Definition of coinsurance

: 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, 24 July 2008

Law Dictionary

coinsurance

noun co·in·sur·ance \ ˌkō-in-ˈshu̇r-əns, kō-ˈin-ˌshu̇r- \

legal Definition of coinsurance

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