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 ?
The interaction term estimates the modifying effect of not being at parity pre-MHPAEA on changes in copayment and coinsurance use and levels post-MHPAEA.
The limit of insurance has to satisfy the coinsurance percentage in order for the full amount of any covered loss to be paid.
If the insured won't go through the process, point out the possibility of a severe loss and quote the cost for an amount of insurance equal to the annual rent roll using 100 percent coinsurance rate, and 1.
As a general matter, the federal statutes on which the OIG relied would not apply to waivers of coinsurance due under private insurance plans.
2 percentage points in PPO/Indemnity plans with coinsurance and deductibles to 4 percentage points in group HMOs.
An out-of pocket maximum limits the amount a patient must pay annually for copayments, coinsurance and deductibles.
OIG is proposing to allow sellers to provide discounts - other than forgiveness of deductibles and coinsurance - directly to beneficiaries.
When inpatient hospital services are received for more than 60 days during a benefit period, the beneficiary must pay a coinsurance amount for each day from the 61st through the 90th and a larger coinsurance amount for each day from the 90th through the 150th.
Coinsurance levels (the employer's share of expense) payable under major medical insurance benefits differed between outpatient mental health care and other outpatient services.
The coinsurance feature expresses patients' financial responsibility as a percentage of the total cost for the service.
This LifeHealthPro story is excerpted from: Medigap insurance is a private insurance policy designed to help pay deductibles or coinsurance incurred by beneficiaries who are in the original Medicare plan (also called fee-for-service Medicare).
Now try to explain to a frustrated insurance student why you can have coinsurance percentages higher than 100 percent in Business Income forms.