coinsurance(redirected from coinsurance clause)
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Related to coinsurance clause: co-insurance
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.
The amount or percentage the insured is responsible for after the deductible has been met.