What does 10 coinsurance mean Meaning and Definition
What does 10 coinsurance mean
Pronunciation
/ˈtɛn θuː ˈkɔɪn.ʃɔːr.snceɪn/
Part of Speech
Noun (phrase)
Definition
A type of copayment or payment structure in health insurance where the insured person pays 10% of the total medical bill, while the insurance provider pays the remaining 90%.
Etymology
The term “coinsurance” originated from the French words “co” meaning “together” and “assurance” meaning “security” or “insurance”. It was first used in the 18th century to describe a type of insurance policy that shared financial risks between the insurer and the insured.
Usage Notes
Coinsurance typically applies to medical expenses, such as hospital stays, surgeries, and doctor visits. It is often used in combination with a deductible, which is the amount the insured person must pay before the coinsurance kicks in.
Cultural References
In popular culture, coinsurance is often referenced in medical dramas and comedies, such as the TV show “The Clinic” and the movie “Seinfeld”.
Idiomatic Expressions or Phrases
In health insurance, the phrase “coinsurance” is commonly used to describe the payment structure. In everyday language, it is often used to describe a shared financial responsibility or risk.
Related Words or Phrases
- Copayment
- Deductible
- Health insurance
- Insurance policy
Collocations
- With a $10 copayment and 10% coinsurance
- The insurance policy has a $1,000 deductible and 10% coinsurance
Frequency of Use
Coininsurance is a common term used in health insurance and medical contexts. Its frequency of use is moderate to high, especially in the United States where health insurance is a priority.
Common Misspellings
- Coinsurince
- Coinserance
- Coinsurnace