1. The portion of the medical expense that a policyholder needs to pay when he receives medical services is called co-payment. The remaining amount is paid by the insurance company.
2. Co-payment is fixed amount or percentage which is preset for various treatment and services.
3. It has to be paid each time the policyholder gets a health care service.
4. A co-payment clause in a policy lowers the premium amount for the policyholder.
5. Typically applicable to senior citizens in health insurance policies in India.
(Content on this page is courtesy Centre for Investment Education and Learning (CIEL). Contributions by Girija Gadre, Arti Bhargava and Labdhi Mehta.)
