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Definitions from the Web

Co-payments

Definition:

Noun: A predetermined payment that an insured person is required to pay at the time of receiving medical services, typically specified as a fixed amount or a percentage of the total cost of the service.

Senses:

1. Medical Insurance: A payment made by the insured person for each medical service or prescription filled, as determined by their insurance plan.

2. Healthcare: The specific amount an insured individual must contribute towards the cost of a particular medical service.

Examples:

Noun:

1. My health insurance policy requires me to make co-payments of $20 for every doctor visit.
2. The co-payment for the prescription was $10, which was considerably lower compared to the total cost of the medication.
3. Due to the presence of chronic conditions, he accumulated hefty co-payments over the year.

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