coinsurance

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Related to coinsurance clause: co-insurance

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.
The American Heritage® Medical Dictionary Copyright © 2007, 2004 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved.

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
Medical Dictionary for the Health Professions and Nursing © Farlex 2012

co·in·sur·ance

(kō-in-shŭr'ăns)
The amount or percentage the insured is responsible for after the deductible has been met.
Medical Dictionary for the Dental Professions © Farlex 2012
References in periodicals archive ?
What is the effect of a coinsurance clause in an insurance policy?
Although some states have passed laws voiding coinsurance clauses, they remain a source of distress to real estate companies who frequently encounter the restriction following a loss.
This condition acts like a 100 percent coinsurance clause in that it requires insurance in the full amount of the completed value of the structure.
The result is then multiplied by the insured's Coinsurance Clause percentage (80% - 100%) to determine the amount of insurance required.
One source of possible problems is the coinsurance clause in time element forms.
Ask your agent to explain the coinsurance clause and its relationship to your total property insurance limit.
The application of the coinsurance clause in forms CP 00 30 and CP 00 32 bases the coinsurance measurement on the twelve months following inception or last previous anniversary of the policy, whichever is later.