Keyword Analysis & Research: what are copayments in health insurance

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Frequently Asked Questions

What is the meaning of copay in health insurance?

Copay in health insurance means the percentage of the claim amount that you will have to bear. This percentage is pre-decided at the time of purchase of a policy. Many insurers have a mandatory clause of co-payment in their health plans, while some have an opt-in option of copay in medical insurance.

What's an annual copayment maximum?

Definition The Annual Copayment Maximum is the maximum amount you pay out of your pocket in a year. Once you meet the Annual Copayment Maximum you are no longer responsible for Cost Share amounts for eligible covered Services, unless otherwise noted under the When You Pay More section of this chapter.

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