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
Examples are automatically compiled from online sources to show current usage. Read More Opinions expressed in the examples do not represent those of Merriam-Webster or its editors. Send us feedback.
The money grows tax-free and any withdrawals for qualified medical expenses are also tax-free — including copays, deductibles, coinsurance and prescriptions. Brian Sloan, CNBC, 25 Feb. 2025 Just 5 percent of traditional Medicare beneficiaries in 2020 had out-of-pocket costs of $6,700 or more in deductibles, copays and coinsurance in Part A and Part B, and 15 percent had costs over $3,400. Mark Miller, New York Times, 15 Feb. 2025 If your plan now has a coinsurance, perhaps a different plan might not. Diane Omdahl, Forbes, 9 Jan. 2025 Copays and coinsurance are more common in low-deductible plans, especially for prescription medications, emergency room visits, inpatient hospital stays, diagnostic imaging and other services. Alexandra Byrne, NBC News, 28 Dec. 2024 See All Example Sentences for coinsurance

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

Browse Nearby Words

Cite this Entry

“Coinsurance.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/coinsurance. Accessed 5 Mar. 2025.

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
Love words? Need even more definitions?

Subscribe to America's largest dictionary and get thousands more definitions and advanced search—ad free!