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English definition of “co-insurance”

co-insurance

noun [ U] (also coinsurance)     INSURANCE
a situation in which two or more insurance companies share a risk
in the US, a system of health insurance in which the patient pays a percentage of the cost of their treatment : We've also seen employers moving away from copayment to coinsurance plans .
co-insurer (also coinsurer) noun [C]
(Definition of co-insurance noun from the Cambridge Business English Dictionary © Cambridge University Press)
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