coinsurance


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Related to coinsurance: Coinsurance effect

coinsurance

(kō′ĭn-sho͝or′əns)
n.
1. Insurance held jointly by two or more insurers.
2. A form of insurance in which a person insures property for less than its full value and agrees to be responsible for the difference.
3. A sum of money paid by a patient to a health care provider after a health insurance company has paid a contractual amount for a covered service, usually a fixed percentage of costs. Coinsurance usually applies after an annual deductible has been paid.

co·in·sur·ance

(kō-in-shŭr'ăns)
The amount or percentage the insured is responsible for after the deductible has been met.
See also: copayment, cost sharing

co·in·sur·ance

(kō-in-shŭr'ăns)
The amount or percentage the insured is responsible for after the deductible has been met.

coinsurance,

n 1. a means of sharing, dividing, or splitting the cost of dental services between the dental plan and the insured patient. A common division is 80/20. This means the insurance company will pay 80% of the cost of the dental service and that the patient will pay 20%. Percentages vary and may be applied to scheduled or usual, customary, and reasonable fee plans.
2. a provision of a dental benefits program by which the beneficiary shares in the cost of covered services, generally on a percentage basis.
3. the percentage of a covered dental expense that a beneficiary must pay (after the deductible is paid). A typical coinsurance arrangement is one in which the third party pays 80% of the allowed benefit of the covered dental service and the beneficiary pays the remainder of the charged fee. Percentages vary and may apply to a table of allowance plans; usual, customary, and reasonable plans; and direct reimbursement programs.
coinsurance clause,
n a provision in an insurance contract stipulating that the insurer will pay a specified share of dental expenses covered by the plan.
References in periodicals archive ?
Health insurance, preventive services, cost-sharing, coinsurance, deductibles, copayments, mammography, Pap smear, blood pressure, health education, managed care
In general, when an uninsurable risk exists, a coinsurance rate of 1 on the insurable risk does not eliminate all risk from the individual.
3) Assuming the insured complies with Step 2, any coinsurance penalty is waived.
As a general matter, advance notice to the insurer of the practice of waiving a patient's liability for coinsurance would provide a strong defense to a fraud claim.
An important motivation for the current research is that, with a single loss severity, the characterization of a partial coverage contract as involving a deductible or coinsurance is without content.
For consumers making 250% or less of the Federal Poverty Level, the government provides reductions on deductibles, copayments, and coinsurance fees.
The Additional Condition, Coinsurance, does not apply to Covered Property to which this Optional Coverage applies.
They examined rates of biennial breast cancer screening in plans requiring a copayment of more than $10 or more than 10% coinsurance for mammography, and compared them with screening rates in plans with full coverage for this service.
The unit will focus on offering yearly renewable term and coinsurance products to the individual life reinsurance market, Ace said.
Situation 1: A is an individual covered by an HDHP, with an 80/20% coinsurance feature above the deductible.
The limit applies to the allowed amount, before deductibles and coinsurance are paid.
One source of possible problems is the coinsurance clause in time element forms.