coinsurance

noun

Etymology: Etymology tree Proto-Indo-European *ḱe? Proto-Indo-European *ḱóm Proto-Italic *kom Proto-Italic *kom- Latin con- Latin co-der. English co- English insurance English coinsurance From co- + insurance.

1. The joint assumption of risk between the insurer and the insured party.
2. The amount paid by the insured in accordance with this risk sharing.

   “For Part B-covered services, you usually pay 20% of the Medicare-approved amount after you meet your deductible. This is called your coinsurance.”

3. The joint assumption of risk between multiple insurers.