Copay
InsuranceGlossary term
Definition
A fixed amount you pay for a covered healthcare service, typically due at the time of service. For example, $25 for a doctor visit or $10 for a prescription.
Related terms
- DeductibleThe amount you must pay out-of-pocket before your insurance coverage begins. Higher deductibles typically result in lower premium costs.
- PremiumThe amount paid for an insurance policy, typically monthly, quarterly, or annually. Premium costs vary based on coverage amount, deductible, and risk factors.
Get advice that uses your real numbers
Warren reads your accounts and explains what terms like this mean for your plan. Free to start, no credit card required.