Copay Meaning

A copay, short for copayment, is a fixed amount a healthcare beneficiary pays for covered medical services. The remaining balance is covered by the person's insurance company. What does copay mean? (noun) Each plan will tell you what type it is (network, PPO, etc.), the deductible, coinsurance, copay and an estimate of your premium cost. The annual copayment maximum is a fixed limit or cap to your total out-of-pocket expense for most covered services in a calendar year or plan year. Most HMSA plans have a specific annual copayment maximum to limit your payments for medical care in a given year. Definition of co-payment: a relatively small fixed fee that a health insurer (such as an HMO) requires the patient to pay upon incurring a medical expense (as for a routine office visit, surgical procedure, or prescription drug) covered by the health insurer First Known Use of co-payment 1966, in the meaning defined above.

1. Copay Meaning Medical
2. Copay Meaning In Health Insurance
3. Copay Meaning In English

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copayment

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Copay Meaning Medical

Copay Meaning In Health Insurance

Copay Meaning In English