What does Co-pay mean?

Co-pay is an insurance policy where the policy holder is responsible for paying set amounts of money per doctor visit or for medications and certain prescriptions, at the time the co-pay insurance option is delivered. The rest of the costs will be the responsibility of the insurance company. However, you should always carefully read through the contract, to see whether you can benefit from this option as well. Also, reading the terms and conditions, in general paying high attention to the fine print is of utmost importance.

Co-pay explained

Generally, charges for co-pay insurance fees do not exceed €25. For instance the contract will require from the insured to pay an amount of €10 for each visit to the doctor, or €10 for each recipe needed, and so on covering for expenses but only up to a specified limit which is displayed in the contract.

This type of insurance certainly has both advantageous and disadvantageous sides to it. Firstly, many times by choosing co-pay insurance, the insured will get very analytical when time for a check up or a simple doctor visit is needed, as he/she wants to avoid any plus expenses, and keep the spending at a minimum and for cases when a more serious medical condition might knock in.