COPAYMENT

Copayment

In the United States, copayment or copay is a payment defined in the insurance policy and paid by the insured person each time a medical service is accessed. It is technically a form of coinsurance, but is defined differently in health insurance where a coinsurance is a percentage payment after the deductible up to a certain limit. It must be paid before any policy benefit is payable by an insurance company. Copayments do not usually contribute towards any policy out-of-pocket maxima whereas coinsurance payments do.

The above text is a snippet from Wikipedia: Copayment
and as such is available under the Creative Commons Attribution/Share-Alike License.

copayment

Noun

  1. A fixed fee paid by subscribers to a medical insurance scheme for each treatment or service in addition to a membership fee.


The above text is a snippet from Wiktionary: copayment
and as such is available under the Creative Commons Attribution/Share-Alike License.

Need help with a clue?
Try your search in the crossword dictionary!