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copayment
(redirected from copay)

   Also found in: Dictionary/thesaurus, Financial, Acronyms, Wikipedia 0.02 sec.
co·pay·ment (kpmnt)
n.
A fixed fee that subscribers to a medical plan must pay for their use of specific medical services covered by the plan.

copayment
[kō′pāmənt]
(in the United States) an amount paid by a health insurance plan enrollee for each office or emergency department visit or purchase of prescription drugs in addition to the amount paid by the insurance company. See also deductible.

copayment,
n the beneficiary's share of the dental professional's fee after the benefits plan has paid.


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This is necessary because an individual is defined by the new Medicare law as "institutionalized" for the purposes of determining copay amounts if he or she is expected to reside in an institution for more than 30 days.
It's a convenient tool for many people and we're happy to provide it as one of our offerings, but the reality is that we've had to make sure copay amounts for mail service actually don't end up costing us money," said Robert Wanovich, director of clinical pharmacy services.
Our group plans include five copay plans, plus our newest plan, Protect HSA, the only high deductible healthcare plan designed exclusively for CalCPA members.
 
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