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Should I Worry About the Co-Pay?
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You hear a lot of talk around the water cooler about the popular health insurance term co-pay. In fact, how many people judge their health insurance often depends on how high or low their anticipated co-pay is.
First of all, what is a co-pay?
The co-pay, or co-payment, is a predetermined flat fee that an individual pays for healthcare services. For example, whenever you visit your dentist, you may be assessed one flat fee for the appointment, regardless of what services you underwent. As many of us are aware, HMOs often require a $10 "co-payment" for each office visit, whether nine x-rays were performed that day or you simply opened your mouth and said: Ahh.
Co-payments are typically quite low, especially when looked at in comparison with the pre-health insurance costs of any service a doctor or hospital may charge. In fact, not only are co-payments low, they are occasionally, but not frequently, nonexistent for a particular visit. And as you may or may not be aware, hospitals and doctors often charge more for services rendered to uninsured patients. So, do not waste a moment stressing about a co-pay.
The co-payment only ever becomes a more pressing issue in larger families, and especially if members of that single family are troubled by difficult health problems, such as cancer or any ongoing condition that incurs high costs in medical care. In situations such as these, it is important to seek a health insurance provider who is open and communicative. The important thing is to ask questions. Ask them often. Your health insurance provider should be able to discuss co-pay costs openly. Then you can plan your budget accordingly. And, as always, inquire among professionals what plan may best suit your individual health insurance needs.
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