BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -The percentage of costs of a covered health care service you pay (20%, for example) after you’ve paid your deductible. The maximum amount a plan will pay for a covered health care service. May also be called “eligible expense, ” “payment allowance, ” or “negotiated rate.”

Detailed explanation-2: -Co-pay in health insurance is a clause, wherein the insured agrees to bear a specific portion of the incurred medical expenses. It is usually a fixed percentage of the claim amount, which the policyholder pays at the time of a claim.

Detailed explanation-3: -1. The portion of the medical expense that a policyholder needs to pay when he receives medical services is called co-payment. The remaining amount is paid by the insurance company. 2. Co-payment is fixed amount or percentage which is preset for various treatment and services.

Detailed explanation-4: -Copay is a financial contribution that the insured needs to make towards a medical expense. This contribution may either be a fixed sum or a percentage of the medical bill. The rest will be paid by the insurer. Coinsurance is a fixed percentage of a medical bill that needs to be paid by the insured.