What is a Copayment in Health Insurance?
A copayment, also known as a copay, is a set dollar amount you are required to pay for a medical service.
In the federal Medicare programMedicare is a federal health insurance program for people ages 65 and older and people with certain disabilities...., Medicare Advantage plansMedicare Advantage (MA), also known as Medicare Part C, are health plans from private insurance companies that are available to people eligible for Original Medicare (Medicare Part A and Medicare Part B).... and Medicare Part DMedicare Part D is Medicare's prescription drug plan program. Plans are offered by private insurance companies and cover outpatient prescriptions.... plans have copays, but Original MedicareOriginal Medicare is private fee-for-service health insurance for people on Medicare. It has two parts. Part A is hospital coverage. Part B is medical coverage.... has coinsuranceCoinsurance is a percentage of the total you are required to pay for a medical service. ....