Updated: 07 Feb 2023, 01:00 AM IST
livemint
Health insurance policies come with different conditions… MoreHealth insurance policies come with various terms and conditions, which can be confusing for policyholders. Two important terms that people often get confused with are deductibles and co-payments. The deductible is the amount policyholders are required to pay out of pocket before their insurance company will cover the costs. Co-pay, on the other hand, is a fixed percentage of medical expenses that policyholders are required to pay even after their insurance company begins covering the costs. For example, if a policy has a co-pay clause of 10%, the policyholder will have to pay 10% of the medical expenses, while the insurance company will cover the rest.