Understanding What a Co-payment Travel Insurance Clause Is Can Save You Money
Not Understanding Can Cost You
Do you know what a co-payment clause is? If you don’t know anything about co-payment clauses, read on. What you learn about co-payment clauses could save you a lot of money!
Similar to car insurance and house insurance policies, many travel medical insurance policies require you to pay a portion of the medical expenses that you incur. Some policies have a deductible (see article on Deductibles) while other policies have what are called co-payment clauses.
Instead of having a fixed deductible amount that you can rely on, a co-payment clause requires you to pay a percentage of your medical expenses. This percentage usually ranges between 10 and 20%. Clearly, this can have a serious impact on your finances, particularly if the bill is very high.
Consequently, it is vital that you know whether the policy you ultimately purchase has a co-payment clause. Otherwise you may be saddled with unexpected health expenses and other costs you can ill-afford. You can find out online when you access the power of the internet to get the travel health insurance policy that offers you the most coverage for the least cost.
Visit the reliable insurance providers listed on our Online Travel Insurance Companies to go to excellent insurance providers to learn whether or not the policies you are considering have co-payment or deductible clauses. At the same time, you can also get a quote and make a decision about which type of policy is most suitable for you.
As you can see, learning about co-payment can save you a lot of money if you ever have a travel emergency that leads to extraordinary costs!