According to the Condusef, the deductible is the amount of money that the insured will contribute each time an accident occurs so that the insurer compensates him and the coinsurance refers to the percentage that must be paid of the total expenses covered by the insurance after of the deductible.
MEXICO.- When you are going to make your medical expenses insurance valid, you should consider that you will have to pay out of pocket what corresponds to the deductible and coinsurance.
On several occasions, people request that the amount of the deductible and coinsurance to be paid be increased, with this the price of the premium is lower, but if this decision is not made correctly and informed, it could have negative effects at the time of need the insurance because the economic commitment that they will have to absorb will be greater. | pexels
In Mexico about 12.2 million Mexicans have a medical expenses insurance and some of the reasons why many people do not insure is because they think these products are expensive and they don’t need them; however, the difference in the cost of an illness with and without insurance can be up to 80 percent.
According to the Mexican Association of Insurance Institutions (AMIS), the cost of pneumonia is about 209,250 pesosbut for this disease, with insurance for major medical expenses, an insured person would pay only 34,455 pesos.
The foregoing, taking into account that he would pay a deductible of 15,000 pesos and a 10% insuranceaccording to a calculation made.
According to the drivingthe deductible is the amount of money that the insured person will contribute each time an accident occurs to be compensated by the insurer and the coinsurance refers to the percentage that must be paid of the total expenses covered by the insurance after the deductible.
Currently the costs of insurance major medical expenses are between 15,000 and 40,000 pesos for a 35-year-old person, however, the price varies depending on various factors, for example, age, sex, location, people’s habits, network of hospitals to attend to, deductible and coinsurance, among other things.
Recently the AMIS reported that among the most expensive diseases treated during 2021, is the Covid-19which costs about 524,000 pesos without insurancewhile with a medical expense product the cost is 65,900 pesos.
It should be noted that insurance for major medical expenses does not free you from the payments that you will have to assume when facing an illness, but rather mitigate and greatly reduce the economic impact that they cause.
For this reason, it is so important that before contracting a product of this type, you review the amount of the deductible that you will pay and the coinsurance that it contemplates.
On several occasions, people request that the amount of the deductible and coinsurance to be paid be increased, with this the price of the premium is lower, but if this decision is not made correctly and informed, it could have negative effects at the time of need the insurance because the economic commitment that they will have to absorb will be greater.
Fuente: Condusef and AMIS
