coinsurance

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

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

Recent Examples of coinsurance from the Web

The cost-sharing reduction is a federal subsidy reducing the amount paid for deductibles, copayments and coinsurance.

— stephen singer, courant.com, "State Asks Insurers To Consider Loss Of Subsidy Under Affordable Care Act," 24 Aug. 2017
One required patients to pay 30 percent of the cost of fillings and extractions as coinsurance.

— andrea k. mcdaniels, baltimoresun.com, "Making dental care more affordable for the elderly," 10 July 2017
The subsidies reduce deductibles, copays and coinsurance payments for some low-income people who buy coverage on the exchanges.

— michelle andrews, Kaiser Health News, "Out Of Work And Looking For Insurance: COBRA May Be The Best Bet For Now," 13 June 2017
Cost-sharing operates behind the scenes, with the government paying deductibles, co-payments and coinsurance to keep health care affordable for about 7 million low-wage Americans.

— stephen koff, cleveland.com, "Health insurance companies guessing at 2018 prices, as Trump sows uncertainty," 1 June 2017
The authors recommend that patients should be charged flat-dollar copays rather than coinsurance charges, which are based on a percentage of the drug’s price.

— sarah jane tribble, Kaiser Health News, "Drug Rebates Reward Industry Players — And Often Hurt Patients," 30 May 2017
What money does come home increasingly goes back out as health care deductibles, copayments and coinsurance.

— h. gilbert welch and elliott fisher, CNN, "Health care costs are bankrupting us," 11 May 2017
The rates being requested assume the funding of cost-sharing reductions (CSRs) – discounts that reduce what's paid for deductibles, co-payments, and coinsurance, Anthem said.

— stephen singer, courant.com, "Health Insurers Seek Double-Digit Rate Increases For 2018 Due To Rising Medical Costs, Marketplace Uncertainty," 8 May 2017
Deductibles, copayments, and coinsurance together can’t exceed $7,150 this year for an individual plan sold through HealthCare.gov or similar state markets.

— ricardo alonso-zaldivar, Orange County Register, "Fact check: Both sides loose with facts in health debate," 14 Mar. 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

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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

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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