It can be a fixed amount per the nature of the treatment of a fixed percentage. Difference between Copay and Co-insuranceĬopay is the fixed amount that you have to pay for your treatment. The deductible is the amount that you need to pay as a share towards your medical bill upon which your policy comes into effect. It can be a fixed amount per the nature of treatment of a fixed percentage. Difference between Copay and DeductibleĬopay is the fixed amount that you have to pay towards your treatment. Then coinsurance will be levied on the sum of Rs.5000. Let us say you have a bill of Rs.10,000 and you have a deductible of Rs.5000. That means you’ll have to pay Rs.5000 towards your treatment before the policy can come into effect.Ĭoinsurance comes into effect once deductibles have been paid. So, you’ll have to pay just Rs.2000 while the balance of Rs.13,000 will be borne by your insurance company. Let’s suppose the bill is Rs.15,000 and your policy says the is Rs.2000. Understanding copay, coinsurance and deductibles using an example: Now that we have explained these terms mean for your insurance, let's also take you through the differences between each of these terms.
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