a contributory payment by an employer, usually matching that of an employee, toward the payment of health-care or life-insurance premiums, a pension fund, etc.

co- + payment Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2014.
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World English Dictionary
copayment (kəʊˈpeɪmənt)
a fee paid by a subscriber to a service for the use of additional services not covered by the subscription

Collins English Dictionary - Complete & Unabridged 10th Edition
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