copay

[koh-pey]
noun
a small fixed amount required by a health insurer to be paid by the insured for each outpatient visit or drug prescription.
Also called copayment, [koh-pey-muhnt]


Origin:
1970–75

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Based on the Random House Dictionary, © Random House, Inc. 2014.
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Example sentences
There are two inpatient copay rates, the full rate and the reduced rate.
Fill only one cavity per visit to increase the copay per procedure.
Copays do not apply to your deductible, coinsurance, or out-of-pocket maximum and not all services require a copay.
No copay on all smoking cessation prescription drugs.
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