Should you take a health insurance policy that comes with a co-pay clause?
Co-pay ratio in health insurance policies can lower your premiums, but also add to your out-of-pocket expense December 29, 2020 / 09:36 AM IST
Typically, a health insurance reimburses your hospital bills, up to your policy’s sum assured. But did you know that some health insurance policies only pay you a part of the amount even though your bills are well within the overall sum assured?
Although a health insurance policy is supposed to reimburse your hospital bills, many policies have clauses that limit the amount you are eligible to get back. These include room rent sub-limits and disease-wise capping. In addition, one of the biggest impediments is the co-pay clause. A co-pay clause can be found in many senior citizen health policies and also the standardised Arogya Sanjeevani health insurance cover. In simple words, if your health insurance policy has a co-pay clause, you need to foot a part of the h