coinsurance
noun
co·in·sur·ance
ˌkō-ən-ˈshu̇r-ən(t)s 
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.
Thomas H. Lee et al.Examples of coinsurance in a Sentence
Recent Examples on the Web
Medicare Advantage plans typically combine coverage for hospital and outpatient care and prescriptions, while eliminating the 20% coinsurance requirement and capping customers' annual out-of-pocket costs.
—Stephanie Armour, CBS News, 4 Nov. 2024
After a deductible is met, an insurance company usually pays a part of subsequent medical claims (known as coinsurance) until that maximum is reached.
—Aria Bendix, NBC News, 30 Oct. 2024
And 30% of plans increased the coinsurance for Tier 4 and Tier 5 drugs.
—Diane Omdahl, Forbes, 17 Sep. 2024
This limit applies to deductibles, copayments, and coinsurance for covered drugs but doesn’t apply to premiums.1
The cap also doesn’t apply to drugs not covered by your plan.
—Fran Kritz, Verywell Health, 3 Oct. 2024
See all Example Sentences for coinsurance 
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Stephanie Armour, CBS News, 4 Nov. 2024
After a deductible is met, an insurance company usually pays a part of subsequent medical claims (known as coinsurance) until that maximum is reached.
—Aria Bendix, NBC News, 30 Oct. 2024
And 30% of plans increased the coinsurance for Tier 4 and Tier 5 drugs.
—Diane Omdahl, Forbes, 17 Sep. 2024
This limit applies to deductibles, copayments, and coinsurance for covered drugs but doesn’t apply to premiums.1
The cap also doesn’t apply to drugs not covered by your plan.
—Fran Kritz, Verywell Health, 3 Oct. 2024
See all Example Sentences for coinsurance
Dictionary Entries Near coinsurance
Cite this Entry
“Coinsurance.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/coinsurance. Accessed 29 Nov. 2024.
Copy CitationMedical Definition
coinsurance
noun
co·in·sur·ance
ˌkō-ən-ˈshu̇r-ən(t)s, -ˈshər- also -ˈin-ˌshu̇r-, -ˌshər-
: 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
Thomas H. Lee et al., The New England Journal of MedicineLegal Definition
coinsurance
noun
co·in·sur·ance
ˌkō-in-ˈshu̇r-əns, kō-ˈin-ˌshu̇r-
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
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