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Coinsurance vs Copay - What's the difference?

coinsurance | copay |

As nouns the difference between coinsurance and copay

is that coinsurance is (us) the joint assumption of risk between the insurer and the insured party while copay is a copayment.

As a verb copay is

to jointly pay with another or others.

coinsurance

English

(wikipedia coinsurance)

Alternative forms

* co-insurance

Noun

  • (US) The joint assumption of risk between the insurer and the insured party.
  • (international) The joint assumption of risk between multiple insurers.

    • See also

    * coinsurer * copayment * deductible

    copay

    English

    Verb

  • To jointly pay with another or others.

    • Noun

    (en noun)
  • A copayment.