Health insurance terminology can be confusing, but understanding deductibles, copays, and coinsurance is essential for making informed healthcare decisions and managing your medical expenses effectively.

Your deductible is the amount you pay out-of-pocket before your insurance begins covering costs. Plans with higher deductibles typically have lower monthly premiums, making them attractive to healthy individuals who rarely need medical care.

Copays are fixed amounts you pay for specific services, such as ₹200 for a doctor visit or ₹500 for a specialist. These payments are required for each visit until you reach your policy limits.

Coinsurance is the percentage you pay for covered services after meeting your deductible. For example, with 20% coinsurance, you pay 20% and your insurance pays 80% of covered costs.

The sum insured limit is the maximum your insurer will pay during a policy year. Understanding this limit helps you plan for potential out-of-pocket expenses during major medical events.

When choosing a health plan, consider your expected healthcare usage. If you have chronic conditions or anticipate surgeries, a plan with higher premiums but lower deductibles and copays may save money overall.

Preventive care services are typically covered at 100% with no cost-sharing in many policies. Take advantage of annual checkups, screenings, and immunizations.

Keep track of your healthcare spending throughout the year to know when you've met your deductible and what expenses remain your responsibility.