Coinsurance
Pronunciation: /ˌkoʊɪnˈʃɜːrəns/
Coinsurance (noun)
- A payment method where both the insurer and the insured share the costs of a medical bill.
Examples
- The patient must pay a coinsurance amount for each medical service received.
- Coinsurance is the part of the cost you pay.
Common collocations: pay coinsurance, coinsurance rate, calculate coinsurance