What Is An Insurance Co-Pay? Co-Pay Explained

An insurance co-pay is a fixed amount that a policyholder is required to pay for a covered health care service, such as a doctor's visit or prescription medication. The co-pay is typically paid at the time of service, and it is in addition to any deductible or co-insurance that the policyholder may be required to pay.

Co-pays are usually a small percentage of the total cost of the service, and they are designed to help policyholders share in the cost of their health care. The remaining cost of the service is usually covered by the insurance company.

Co-pays may vary depending on the type of service and the policyholder's insurance plan, and some plans may not have co-pays for certain types of services. It is important to review your insurance plan and understand what co-pays apply to your coverage.

Overall, an insurance co-pay is a fixed amount that policyholders are required to pay for covered health care services, and it is an important aspect of many health insurance plans.