What Is Co-Pay In Health Insurance?

What is Copayment Health Insurance?

Co-payment in health insurance is the amount of claim that has to be borne by the insured customer in case of hospitalization. The rest of the claim amount would be paid by the insurance company. For instance, if the co-pay under the health insurance policy is mentioned as 205 and the claim amount is 1 Lac, in this case, the customer has to bear Rs.20k from his pocket before the insurance company settled the remaining amount of Rs.80k. The amount paid by the customer from his pocket is known as co-pay in a health insurance policy. The co-pay option reduces the premium to be paid by the customer compared to the health insurance policies without the co-pay option. This is due to a part of the liability is passed on to the customer. Few health insurance policies have an inbuilt co-pay option while the other health insurance policies leave the option to the customer to opt for co-pay.

What is Copay in Health Insurance?

Co-pay is the fixed amount of money is must pay each and every time when an insured person needs medication. Co-pay is the amount of claim which is to be borne by the insured customer at the time of claim settlement. Most of the health insurance policies have a co-pay clause if there are senior citizens included in the policy. Higher the co-pay amount selected by the customer lower would be the health insurance premium. Co-pay is the way of making customers liable and participating in the claim.

How many times can I claim in a Health insurance policy?

You can claim any number of times in your health insurance policy as long as the sum insured is not exhausted. The sum insured in your policy is the maximum limit which can be utilised by you for claiming any number of times. There is no limit on the number of claims that can be made in your health insurance policy.

How to Download Oriental Health Insurance Premium Payment Receipt Online?

The Process of downloading the Oriental health insurance premium payment receipt online is quite simple and easy. You can download your National Health Insurance Premium Payment Receipt Online by following these steps:

1. Visit the official Website of the Oriental General Insurance Company.
2. Go to “Customer Services”
3. Enter the required details such as mobile number or email id, etc.
4. click on the “Submit” button
5. Or if you are an existing customer of PolicyBachat it will be done very easily by contacting our customer care number to request for it to be mailed to you instantly.

How to Download Raheja QBE Health Insurance Premium Payment Receipt Online?

The Process of downloading the Raheja QBE health insurance premium payment receipt online is quite simple and easy. You can download your Raheja QBE Health Insurance Premium Payment Receipt Online by following these steps:

1. Visit the official Website of the Raheja QBE General Insurance Company.
2. Go to “Customer Services”
3. Enter the required details such as mobile number or email id, etc.
4. click on the “Submit” button
5. Or if you are an existing customer of PolicyBachat it will be done very easily by contacting our customer care number to request for it to be mailed to you instantly.

How to Download Reliance Health Insurance Premium Payment Receipt Online?

The Process of downloading the Reliance health insurance premium payment receipt online is quite simple and easy. You can download your Reliance Health Insurance Premium Payment Receipt Online by following these steps:

1. Visit the official Website of the Reliance Health Insurance Company.
2. Go to “Customer Services”
3. Enter the required details such as mobile number or email id, etc.
4. click on the “Submit” button
5. Or if you are an existing customer of PolicyBachat it will be done very easily by contacting our customer care number to request for it to be mailed to you instantly.

How to Download Royal Sundaram Health Insurance Premium Payment Receipt Online?

The Process of downloading the Royal Sundaram health insurance premium payment receipt online is quite simple and easy. You can download your Royal Sundaram Health Insurance Premium Payment Receipt Online by following these steps:

1. Visit the official Website of the Royal Sundaram Health Insurance Company.
2. Go to “Customer Services”
3. Enter the required details such as mobile number or email id, etc.
4. click on the “Submit” button
5. Or if you are an existing customer of PolicyBachat it will be done very easily by contacting our customer care number to request for it to be mailed to you instantly.