Co-Pay in Medical Billing
A co-pay is a fixed amount that a patient is required to pay out-of-pocket at the time of service, as specified by their health insurance plan.
Co-Pay in Medical Billing Explained
In medical billing, a co-pay is the portion of the service cost that the patient is responsible for paying upfront, with the insurance company covering the rest. Co-pays vary depending on the type of service, such as doctor visits, specialist visits, or prescription drugs. They are typically lower than deductibles or coinsurance.
For example, a patient pays a $25 co-pay for a routine check-up, while their insurance covers the remaining balance.
Check acronyms and abbreviations in Medical billing glossary.
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