What health insurance do I choose, with or without a copayment?

Image result for health insuranceMedical insurance is undoubtedly one of the most important coverage products to be hired to cover present and future needs, not only our own, but also those of our entire family. A “universal” product but offering a long series of possibilities for benefits and hiring.

The analysis of all of them is fundamental, it is not a question of paying too much, nor of falling short of coverage, but of adapting our needs to the most appropriate product. This “study” we must do from the beginning, from the moment we are going to hire our health insurance, because then we will decide variables that will influence not only the coverage of the product as in the cost of it, one of these is If we opt for copayment or no copayment.

Factors to consider

The copayment consists of a small price, which the insured pays at the time of receiving medical assistance. In some cases this amount is variable and is related to the medical service provided. For example, they charge less for assistance to a general medicine or pediatrician than a specialist. The same usually happens with diagnostic tests with clear differences between the cost of the “simplest” such as analysis or radiographs to more complex ones such as an MRI. This co-payment modality makes it very difficult to control the expense that we would incur if we go to the doctor or perform a test. Therefore, the modalities of linear co-payment like those offered by Aegon (we pay the same for each medical assistance regardless of the doctor we visit or prove that we perform) makes it easier for us to know month after month what our total expenditure will be.

In exchange for making these small payments for medical assistance we will get a savings in the periodic disbursement we made for our insurance premium, that is, we will have a “fixed” part that we will pay for, whether we use the service and another variable that will depend on the assistance we have over time (usually monthly).

Calculate the best economic option

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This is the most important point, we a priori get a savings with the co-payment option, but we would only achieve it if we did not visit the doctor frequently. A priori, we do not know if we are going to have a long illness that forces us to do so, but if we have circumstances that can give us some clue. For example, if we have young children, emergencies or regular visits to the pediatrician are usually important. For example, if we think about having children, we know that there are many frequent visits on the horizon with a large number of medical tests and the co-payment is not so important.

The three possibilities of co-payment that Aegon offers us (without co-payment, linear co-payment of 5 euros or linear co-payment of 10 euros) allow us to have a full range of possibilities to adapt them to our personal circumstances. If we go – or rather, we hope – continuous medical assistance or prefer to always know what we are going to pay, without surprises, the best option in the medium term would be without a copayment. For a medium assistance, discontinuous in time the best choice would be the co-payment of 5 euros. Finally, if we believe that we are going to go to the doctor very little and we choose to contract a health insurance exclusively for the support and security we get, we will choose the highest copay of 10 euros, which guarantees a lower fixed premium. But in all cases, the same security and protection.

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