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Copayment
(redirected from Co-payment)

   Also found in: Dictionary/thesaurus, Medical, Wikipedia 0.01 sec.
Copayment
In insurance, a fee that a policyholder must pay for certain covered items for which the insurance company otherwise pays. For example, a check-up with a doctor may cost the policyholder a copayment of $25, with the insurance company paying for the remainder of the cost due. A copayment is also called a co-pay and should not be confused with a deductible. It exists to discourage policyholders from abusing the insurance policy.

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 plans may not require copayments for annual physicals and certain diagnostic tests.

If you see an out-of-network provider, you are likely to be responsible for a percentage of the approved charge, called coinsurance, plus any amount above the approved charge.



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A co-payment is basically a sort of cost-sharing agreement beneath which a recipient promises to pay a particular dollar amount for the recommended drug.
O'Brien's ongoing effort to reduce the city's health insurance costs, he is implementing some co-payment changes for those municipal employees who are members of Local 495, National Association of Government Employees.
In 2008, it covers Medicare's $256 daily co-payment for days 61 to 90 in a hospital.
 
 
 
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