Copayment
Co-insurance is a percentage of the cost of a covered healthcare service that you pay (20%, for example) after you've paid your deductible. For instance, if a hospital visit costs AED 1,000 and your co-insurance is 20%, you will pay AED 200 while the insurance pays the remaining AED 800.
Benefits of Co-Insurance
- Encourages consumers to seek necessary care without over utilising services
- Can lower the monthly premium cost compared to plans with lower out-of-pocket cost shares
Comparing Co-Insurance and Co-Payment
- Co-insurance is a percentage of the service cost. Co-payment, meanwhile, is a fixed amount.
- Co-insurance applies after meeting the deductible, whereas co-payments might apply immediately as per the policy.
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