copayment
KOH-pay-muhnt
/ˈkoʊˌpeɪmənt/
A fixed, predetermined amount that an insured person pays for a specific medical service or prescription drug at the time of service.
Copayments (or 'copays') are flat fees (e.g., $20 for a doctor's visit, $15 for a generic drug) and do not vary based on the total cost of the visit, unlike coinsurance.
The story behind the word. A compound of the Latin prefix 'co-' (together) and 'pacare' (to appease, pacify, or pay, from 'pax' meaning peace). Literally, it is a payment made 'together' with your insurer to satisfy the provider and bring 'peace' to the transaction.
Word relationships
- flat fee: Flat fee is a general term for any fixed charge, while copayment is specifically the fixed charge paid by an insured patient.
Commonly confused with
- coinsurance: A copayment is a fixed dollar amount (e.g., $20), whereas coinsurance is a percentage of the total cost (e.g., 20%).
Word family
- copay (noun): The informal, shortened version of copayment.
Collocations
- office visit copayment
- prescription copayment
- flat copayment
- pay a copayment
Example sentences
- "When you arrive at the specialist's office, you will be asked to pay a forty-dollar copayment before your appointment begins." An instruction on visiting a specialist.
- "The silver plan offers a lower monthly premium but requires a higher copayment for every urgent care visit." A comparison of plan benefits.
Memory hook
The 'co-' means together, and 'payment' is the cash. You and the insurer pay the doctor together, with your share being a small, flat fee. Copay is a flat fee you pay today.
When not to use
Do not use copayment when referring to a percentage of the bill; that is coinsurance.
Fun facts
- Copayments were introduced to prevent 'moral hazard'—the tendency of people to overutilize healthcare services simply because they are free.
Related words
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