Coinsurance
Definition, Meaning & Examples
Part of speech noun
Quick meaning: Coinsurance is a noun meaning (especially US) The joint assumption of risk between the insurer and the insured party.
Meaning
(especially US) The joint assumption of risk between the insurer and the insured party.
More Meanings
- (especially US, metonymic) The amount paid by the insured in accordance with this risk sharing.
- (international) The joint assumption of risk between multiple insurers.
Example Sentences
For Part B-covered services, you usually pay 20% of the Medicare-approved amount after you meet your deductible. This is called your coinsurance.
Word Forms
- coinsurances
- co-insurance
Related Words
Related dictionary entries include deductible, risk, self-insurance, cover, insurance, insured.
Related Dictionary Tools
Sources & Attribution
FreeDictionaryAPI.com / Wiktionary · Original source · CC BY-SA 4.0
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