coinsurance
/koʊɪnʃˈɝəns/
coinsurance
English
Noun
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Definition
The joint assumption of risk between the insurer and the insured party.
Etymology
From co- + insurance.
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."
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