copayment

A copayment, often called a copay, is a fixed amount you pay out of pocket when you receive a healthcare service, such as visiting the doctor or getting a prescription. It’s a way to share the cost of healthcare between you and your insurance plan. For example, you might pay $20 for a doctor’s visit, while your insurance covers the rest. Copayments are intended to encourage responsible use of medical services and help control overall healthcare costs. The specific amount varies depending on your insurance plan and the type of service received.