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Now, Bin works for a company and his company buys insurance for him. When he goes to hospital and pays the hospital fee, the insurance will cover some of this fee.

It depends on kinds of insurance. For "expensive insurance", you can claim 70% of the fee. For "cheaper insurance", you might claim as low as 30% or 20%.

Is it correct to say:

I have low-paid insurance when I work for that company?

or even "cheap insurance" or "limited insurance"?

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3 Answers 3

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The name for the share or amount of medical expenses that you have to pay is a co-pay, or co-payment (sometimes written copay or copayment). So a more accurate way of expressing the situation in the question would be "My insurance has a high co-payment" or "high co-pay". If you only have to pay a small amount and your insurance covers most of it, you would have a low co-payment.

"Cheap insurance" or "limited insurance" would certainly suggest you don't get much money out of them, but could mean it doesn't cover you for many things, rather than them only paying out a small amount for the things. It depends how precise you want to be.

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The usual word for AME is limit, perhaps reimbursement.

As in "My insurance has low limits" or "My insurance has low reimbursement rates".

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You could describe an insurance policy that covers only a small portion of the total charges, and therefore can be bought for comparably modest premiums, as low-cost insurance.

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