co pay

Factual Questions
1

I’ve seen these signs mentioning it.
What is a co-pay?

2

A copay (assuming you’re talking about insurance) is a portion of a bill for services which under the terms of an insurance policy the insured has to pay. Say your bill for medical services is $100 and your policy has a $15 copay. You pay $15 and your insurance company pays $85.

This is different from a deductible, which is a specified amount an insured has to pay before the insurance company starts paying.

Copays are usually but not always associated with outpatient doctor visits and prescription drugs.

3

thanks.
Yes, I see those signs in doctor offices.

4

Not to be confused with co-insurance. That’s when you pay a percentage of the insurance company’s negotiated rate.