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co-payment

   Also found in: Dictionary/thesaurus, Financial, Wikipedia 0.01 sec.
co-payment
Managed Care That portion of a claim or medical expense that a health plan member must pay out-of-pocket for specific medical services–eg, hospital care, drugs, office visits, etc; the insurer pays the remaining portion


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A co-payment is basically a sort of cost-sharing agreement beneath which a recipient promises to pay a particular dollar amount for the recommended drug.
O'Brien's ongoing effort to reduce the city's health insurance costs, he is implementing some co-payment changes for those municipal employees who are members of Local 495, National Association of Government Employees.
In 2008, it covers Medicare's $256 daily co-payment for days 61 to 90 in a hospital.
 
 
 
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