Is copayment more economical than deductible for health care insurance?

Answer 1

co payment and deductibles are not the same. if you select "co payments" you will always pay it for the term of the policy."

Once you meet a deductible, its paid in full until the policy renews.

Which is best depends on your personal circumstances.
No one can annswer that question for you with out a review of your fact situation and the terms of the insurance policies.

Premiums usually go down as deductibles go up.
But a higher deductible means you need to have some dicipline to set money aside.
Co payment plans are susally more expensive (or have less coverage) than deductible plans.

So I guess the question is, "How much can you afford to pay for insurance and how much insurance do you need?

Good Luck.

Answer 2

I think it depends how often you would use the insurance. If you just have lots of doctor visits and don't think you are going to have any hospitalization, then I would go for the co-payment. You are paying a percentage of the office call. If you have alot of health problems and think you will need expensive care, etc, then I would opt for the deductible. Plus, deductibles can be high. What's the chance you would meet, say, a 2,500.00 deductible in doctor visits? Not likely. But if you were hospitalized and had alot of lab or x-rays, then, it would be easy to rack up that much in bills. That's where the deductible comes in.

Answer 3

Most health care insurances have both a copayment and a deductible. For example, you have a copayment for normal check-ups, but you have a deductible for surgeries and whatnot. So, to answer your question, it's not a either/or choice.

Answer 4

The wording of your question reveals that you have no clue what either of these terms refer to.

A copay is what you have to pay each time - if you have a copay office visit plan, every office visit has a copay. Every prescription refill has a copay - you pay it each time.

The deductible accumulates. If you have a 1000.00 deductible, and you have a 800.00 bill, you pay all 800.00. Next you get a 500.00 bill. Now you only pay 200.00 (because that's the remaining balance of your deductible).

This is quite simple. People pay insurance agents big money to figure this out for them, and a 12 year old could understand this stuff.

Answer 5

you have to look at:
who is going to be going to the doctor?
what are the reasons for the visit?
How many times you are going?

than decide which is cost effective. All health care is different that is why you need to sit down and talk to HR about the plans and make THEM GRIND OUT THE LITTLE DETAILS....

Answer 6

A co payment and a deductible work the same.

Answer 7

It all depends on how many times you visit a health care professional - one or two co-payments is no biggie - but if you are going repeatedly - it sure does add up fast!

Answer 8

Depends on your health status. If you are young and healthy, rarely see a doctor, copay is probably your best bet.

Answer 9

When I didnt pay my deductable, they took my dentures.