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co-pay

 

Definitions from the Web

Co-pay

Part of Speech: Noun

Sense 1: A fixed amount of money that an insured person pays for a covered healthcare service, typically due at the time the service is rendered.

Example Sentence: The co-pay for a doctor's visit is $20.

Sense 2: A shared expense between the insured person and the insurance provider, where both parties contribute towards the cost of healthcare services.

Example Sentence: The insurance plan has a 30% co-pay for hospital stays.

Sense 3: A local term used in some regions to refer to a contribution made by passengers towards a shared taxi or ride service.

Example Sentence: In New York City, the co-pay for a taxi ride is divided equally among the passengers.

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