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Copayment

A fixed dollar amount you pay for a covered health care service.
Aaron Sims
Reviewed byAaron Sims

Medicare Term

Definition

A fixed dollar amount you pay for a covered health care service.

A copayment (or copay) is a set fee you pay each time you receive a particular service, such as a doctor visit or prescription. Unlike coinsurance, which is a percentage, copays are a flat dollar amount. Medicare Advantage plans commonly use copays for office visits and prescriptions.

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