Question

What is copay?

A. The amount your insurance company pays for a hospital stay.

B. Small payment for a visit to a doctor in addition to paying for insurance.

C. A monthly payment for health insurance.

D. The portion of rent that goes towards your mortgage.

Answer 1

B. Copay refers to a small, fixed amount of money that an individual is required to pay at the time of receiving medical services, in addition to the amount paid by their health insurance plan. It is a form of cost-sharing between the individual and their insurance provider, and the amount of the copay can vary depending on the specific health plan and the type of medical service received.

Answer 2

The answer is B.

A copay is a small, fixed amount of money that you pay for a covered health care service, usually at the time of service. Copays are often required for doctor visits, prescription drugs, and other medical services. The amount of your copay will vary depending on your health insurance plan.

A copay is different from a deductible, which is the amount of money you have to pay for covered health care services before your insurance company starts to pay. Once you have met your deductible, your insurance company will usually pay a percentage of the cost of your covered services.

A copay is also different from a coinsurance, which is the percentage of the cost of covered health care services that you have to pay after you have met your deductible. For example, if your coinsurance is 20%, you will have to pay 20% of the cost of your covered services after you have met your deductible.

Copays, deductibles, and coinsurance are all ways that you can share the cost of your health care with your insurance company. The amount of each of these will vary depending on your health insurance plan.