What is meaning of Co-Pay or Copayment in Health Insurance? - Ditto

Health Insurance Glossary

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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A

Accident Accumulation Period Acute Care Add-on Covers Age Limit Agent Ambulance Cover Annual Renewal Date Any One Illness Automatic Restoration AYUSH Treatment

B

Beneficiary Benefit Blacklisted Hospitals Broker

C

Cancer Insurance Cashless Claims/Treatment Cashless Facility/Hospitalization Certificate of Insurance Claim Claim Settlement Claim Settlement Ratio Co-insurance

Co-Pay or Copayment

Comorbidities/Pre-Existing Diseases Complimentary Health Check-ups Convalescence Benefit Critical Illness Cumulative/No-Claim Bonus

D

Daily Hospital Cash Day Care Treatment Deductible Dependents Domiciliary Hospitalization

E

Eligibility Emergency Care Exclusions

F

Family Floater Policy First Diagnosis Free Look Period

G

Grace Period Group Health Insurance

H

Health Insurance Tax Benefits Hospitalization

I

Illness Individual Health Insurance Inpatient Care Insurer IRDAI

L

Lapse Long-Term Care Policy

M

Maternity Expenses

N

Network Provider/Hospital No Claim Bonus (NCB)Nominee Non-Network Provider/Hospital

O

Out-Patient Department (OPD)/Treatment

P

Personal Accident Cover Policy Coverage Policy Document Policy Period Portability Post Hospitalization Expenses Pre Existing Disease (PED)Pre Hospitalization Expenses Premium Primary Insured Private Room Psychiatric Cover

R

Refill Sum Insured Reimbursement Renewal Restoration Benefit Rider Room Rent Limit

S

Senior Citizen Health Insurance Specific Illness Waiting Period Sub-Limit Sum Insured

T

Terminal Illness Third-Party Administrator (TPA)Top-up Plans

W

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