The answer is Copayment or Copay.
Copayment or copay is a fixed amount for closed services, paid by patients to service providers before receiving services. This can be defined in an insurance policy and paid for by the insured person whenever medical services are accessed. This is technically a form of coinsurance but is defined differently in health insurance where coinsurance is a percentage payment after deducting to a certain extent. It must be paid before the policy benefits are paid by the insurance company. Payments usually do not contribute to maximum policy, whereas coinsurance payments do.
An insurance company is an institution that provides all kinds of insurance policies that can protect a person or a customer who joins him from a variety of risks by holding several insurance policies.
An insurance policy is an agreement about insurance or a consensual coverage, which means there is agreement. This must be written down with a deed involving the parties to the agreement. The deed has been written and named as an insurance policy. In short, an insurance policy is in the form of written evidence as proof of an agreement between the insured party or the customer and the guarantor, the insurance company.
Types of Insurance
Various types of insurance are classified based on their use, here are some types of insurance including:
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Details
Grade: High School
Subject: Business
keywords: Copayment, copay
