Definition, Meaning & Synonyms
copay
noun
/ˈkoʊ.peɪ/
Definition
A fixed amount you pay for a covered healthcare service after you’ve paid your deductible.
Examples
- When visiting the doctor, my copay is $20 for each appointment.
- The copay for a specialist might be higher than for a regular doctor’s visit.
- Make sure to check your insurance plan to understand your copay obligations.
Meaning
A copay is the portion of a medical expense that you are responsible for paying out of pocket. It is usually a specific dollar amount and varies depending on the service or medication.
Synonyms
- co-payment
- deductible payment
