Type: clipping

A co-pay is a fixed out-of-pocket amount paid by an insured for covered services. It is a standard part of many health insurance plans. Insurance providers often charge co-pays for services such as doctor visits or prescriptions drugs. Co-pays are a specified dollar amount rather than a percentage of the bill, and they usually paid at the time of service.

Learn more: https://www.investopedia.com/terms/c/copay.asp