#co-payment

[dailyfinancial]

Tata AIG Medicare Premier’s Global Suraksha: Your Key to Worry-Free Treatment Abroad

Tata AIG Medicare Premier: comprehensive health insurance with global coverage, dental, and mental health benefits. Compare premiums, pros, cons, and peers like Star Health and Niva Bupa. Is it worth the cost? Read our detailed review for insights and make an informed choice for your family’s healthcare needs. Tata AIG Medicare Premier is a comprehensive health insurance plan designed to provide…

Tata AIG Medicare Premier’s Global Suraksha: Your Key to Worry-Free Treatment Abroad

[ethikainsurance]

Understanding Co-payment in Health Insurance: A Comprehensive Guide

Discover the ins and outs of co-payment in health insurance with our in-depth guide. Learn how co-payment works, its impact on your healthca

Co-payment refers to the amount of claim that should be borne by the insured during the settlement of a claim. The co-payment amount depends on the co-payment clause mentioned in the policy. Irrespective of the claim amount, the insured has to settle their part before the insurance company makes the final payment. The co-payment could vary between 10% and 50% depending on the health insurance plan chosen by you and the insurer. Even group health insurance plans have a co-payment clause to reduce the overall payable premium. Co-payment is a way of making the insured behave as the insurer so that the insured absorbs a part of the risk. There are two types of co-payment: Mandatory and Voluntary. Mandatory co-payment is compulsory for every customer taking the health insurance plan.