In India, the co-pay feature in health insurance was introduced with the cost-benefit logic in mind. The basic objective behind it was to save cost and come up with more efficient policies by discouraging unnecessary claims.
What does Co-Pay mean?
When both you and your insurer share the cost of your medical expenses, it is called co-payment. Understanding the concept of co-pay will help you know how much you have to pay and when you have to contribute to the medical bills.
