What is a copayment in health insurance?

What is a copayment in health insurance?

A copayment, or copay, is a fixed amount you pay for a specific medical service or prescription, usually at the time of service.

How does a copayment differ from a deductible?

A deductible is the amount you pay out-of-pocket before your insurance starts to cover costs, while a copayment is a fixed fee for services after the deductible is met.

Can you give me an example of how copayments work?

Sure! If your copayment for a doctor's visit is $20, you pay that amount at the visit, and your insurance covers the rest.

Are copayments the same for all services?

No, copayments can vary depending on the type of service, such as primary care visits, specialist visits, or prescriptions.

What happens if I don't pay my copayment?

If you don't pay your copayment, the provider may not allow you to receive the service, or you may be billed later.