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Co-payment Definition & Meaning – Merriam-Webster
https://www.merriam-webster.com/dictionary/co-payment
The meaning of CO-PAYMENT is a relatively small fixed fee that a health insurer (such as an HMO) requires the patient to pay upon incurring a medical expense (as for a routine office visit, surgical procedure, or prescription drug) covered by the health insurer.
Co-payment financial definition of Co-payment
https://financial-dictionary.thefreedictionary.com/Co-payment
Copayment. If you have a managed-care health insurance plan, your copayment is the fixed amount you pay — often $10 to $25 — for each in-network doctor’s office visit or approved medical treatment. In some plans, the copayment to see a specialist to whom you’re referred is higher than the copayment to visit your primary care physician. Some …
FAQ co-payment
What is copayment?
Copayment. A fixed amount ($20, for example) you pay for a covered health care service after you've paid your deductible.
What does co pay mean in medical terms?
co-pay· ment | ˈkō-ˌpā-mənt , ˌkō-ˈpā. : a relatively small fixed fee that a health insurer (such as an HMO) requires the patient to pay upon incurring a medical expense (as for a routine office visit, surgical procedure, or prescription drug) covered by the health insurer.
What is a health insurance copayment?
A health insurance copayment is a fixed amount set by an insurance plan for sharing the cost of covered services between the plan and the customer. The cost-sharing system is a critical selling point for each plan because it breaks down how much you’ll actually owe for services, prescriptions, doctor visits, and more.
What does copay mean in medical terms?
Published by Houghton Mifflin Company. All rights reserved. A fixed or set amount paid for each health care or medical service; the remainder is paid by the health insurance plan. In common parlance, copay is the term used. Synonym (s): out-of-pocket costs, out-of-pocket expenses.
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