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 Almost a third of drug plans changed a copayment to a coinsurance. Diane Omdahl, Forbes, 17 Sep. 2024 Discounts, coinsurance and copays will affect the final prices. C. A. Bridges, The Arizona Republic, 16 Aug. 2024 In many cases, people who get coverage through an employer or the ACA marketplace find out they're expected to pay for a larger share of their health bills through deductibles and coinsurance. Ken Alltucker, USA TODAY, 15 Apr. 2024 In France, for example, the medical system covers most hospital, long-term care, and prescription drug costs, but people are responsible for coinsurance and copayments. Katie Camero, SELF, 8 Aug. 2024 See all Example Sentences for coinsurance 

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 11 Oct. 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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