What is a Health Insurance Deductible and a Copay?

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Medical travel insurance is one of the main reasons travelers buy travel insurance. Policies with medical benefits can reimburse travelers for the expenses incurred in the event of a medical emergency during their trip. This can include expenses like ambulance services, medical evacuations, and physician fees, among others.

Within some policies, there is a health insurance deductible and a copay amount tied to the Emergency Medical benefit. Depending on these amounts, and the coverage amounts, certain policies may be better than others.

What is a health insurance deductible within travel insurance?

The Medical Deductible included within some travel insurance policies is the amount the insured traveler is responsible for in the event of a medical emergency. This payment amount typically ranges from $0 to $2,500, depending on the policy. After a traveler’s expenses have exceeded their deductible, their policy’s coverage will kick in.

What is a copay within travel insurance?

A copay, or co-insurance, is the percentage of medical expenses that are the responsibility of the traveler after they have paid their medical deductible. Typically, travel insurance policies with a copay will cover 80% of the first $5,000 in medical expenses, and 100% of the remaining expenses up to the policies medical limit. This means the insured would pay their deductible, and would be responsible for 20% of the first $5,000 of medical bills.

If a policy does not have a copay, the insurance provider can cover all of a traveler’s medical expenses, up to the policy’s coverage limit.