coinsurance

[ koh-in-shoor-uhns, -shur- ]

noun

1. insurance none underwritten jointly with another or others.
2. a form of property insurance in which an insurer assumes liability only for that proportion of a loss which the amount of insurance bears to a specified percentage of the value of the property.
3. 1. a form of health insurance in which the insured party contributes a specified percentage of the total cost of medical expenses after a deductible has been reached.
   2. the percentage contributed by the insured party: Compare copay.

      My coinsurance is 20%.

coinsurance

/ -ˈʃɔː-; ˌkəʊɪnˈʃʊərəns /

noun

1. a method of insurance by which property is insured for a certain percentage of its value by a commercial insurance policy while the owner assumes liability for the remainder
2. joint insurance held by two or more persons

Word History and Origins

Origin of coinsurance¹

First recorded in 1885–90; co- none + insurance none

Example Sentences

Every plan has set costs, like the monthly premiums, plus the costs of care, which include the deductible and any copays and coinsurance.

From Seattle Times

Research the rest of the plan’s costs before you sign up, including deductibles, copays, coinsurance and the out-of-pocket maximum, which is the most you might have to spend on covered care in a year.

From Seattle Times

For example, if you have both Medicare and Medicaid, Medicare pays for services first, and then Medicaid pays for additional costs that Medicare didn’t cover, such as certain copays, coinsurance and deductibles.

From Seattle Times

That could help some patients who have coverage but still face big bills like coinsurance payments when they get a prescription.

From Washington Times

In the agreements they signed, patients promised to pay any coinsurance, meeting any deductible, and pass on to the medical practice any reimbursement checks they received from their health plans within seven days.

From Salon