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Health Insurance Glossary

Co-Pay or Copayment

Co-payment is a prevalent insurance feature found in many health insurance policies.

A co-payment means that the policyholder agrees to pay a percentage of the total cost of hospitalization. If a policyholder agrees to a 20% co-payment, she must pay 20% of the total medical bill each time she files a claim.

Most of us would be wise to avoid choosing co-payment.

However, sometimes co-payment is made mandatory for people with pre-existing diseases or who are older by the insurers. If co-payment is forced and if one has no option to buy a policy without one, he can evaluate the co-payment option. Because having a health insurance policy with a co-payment is preferable to not having health insurance at all.

For more details check out article on Co-payment in Health Insurance

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