BUISENESS MANAGEMENT
BUSINESS PLANNING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Amount paid out of pocket before your insurance coverage
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Paid by the insurer
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Applied on an annual basis
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A fixed amount of money you pay each time you use your plan
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Detailed explanation-1: -What is co-payment in health insurance? 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-2: -What is Co-payment? Co-payment is the percentage of the claim that the insured agrees to pay from his/her pocket irrespective of the claim amount. It usually varies from 10% to 30% and is insisted mostly under senior citizen health insurance policies. The insurer only pays the balance claim amount.
Detailed explanation-3: -A 10% copay clause means that the company is directly saving 10% of all payments.
Detailed explanation-4: -Capitation fee, or capitation rate, is the fixed amount paid from an insurer to a provider. This is the amount that is paid (generally monthly) to cover the cost of services performed for a patient.