What is a co-payment?

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Multiple Choice

What is a co-payment?

Co-payment is a fixed amount you pay at the time you receive a specific service or fill a prescription. The amount is predetermined by your health plan and stays the same regardless of the actual cost of the service. This is different from coinsurance, which is a percentage of the bill after any deductible, and from a deductible, which is the amount you must pay before insurance starts sharing costs. It’s not a waiver for low income and not a fixed monthly fee for all services.

Co-payment is a fixed amount you pay at the time you receive a specific service or fill a prescription. The amount is predetermined by your health plan and stays the same regardless of the actual cost of the service. This is different from coinsurance, which is a percentage of the bill after any deductible, and from a deductible, which is the amount you must pay before insurance starts sharing costs. It’s not a waiver for low income and not a fixed monthly fee for all services.

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