Co-pays can often total hundreds of dollars each month if you have several health ailments. However, if that patient cannot afford $100 each month, he or she will most likely skip one, if not all, of those appointments. For example, a person with a chronic condition may need to see four doctors over the course of a month, all of which require a $25 co-pay. However, while the co-pay has been found to lower costs by making people think twice before running to the doctor over a case of the sniffles, they might also prevent people from seeking necessary medical attention. In this way, co-pays can save an insurance company a substantial amount of money. In addition to cutting a small portion of the costs, the co-pay is also used to prevent people from seeking care for every trivial medical condition they might encounter. Insurance companies use these co-pays in part to share expenses with you. Each health insurance plan establishes these fees up front - they are often printed on your health insurance card. Perhaps a little bit of knowledge will save you some health care cash.Ī co-payment, or co-pay, is the flat amount you pay at the time of a medical service or to receive a medication. Once we decipher what they mean, we will attempt to explain how they are used in different types of health insurance plans. So let's start with a few basic terms: a co-payment and a deductible. Many health benefits are being trimmed while

With these growing costs is the growing importance of getting the most out of your health care coverage. Those who can still afford health care are often finding that their benefits are being trimmed while their co-pays and deductibles are increasing. Health care costs have gone up for the sixth year in a row, increasing at rate higher than inflation.

Copay in health insurance