Okuzeka
Insurance vocabulary · Life & Health Insurance

Co-payment

Meaning in insurance, with examples

nounCommon term

In insurance, co-payment means: The part of a medical bill that the insured person pays each time they use a health service, either a fixed amount or a percentage.

In Turkish: katılım payı, katkı payı

How it is used

Often shortened to 'copay' in the US. Plans with a co-payment usually have lower premiums. In strict US usage a fixed fee is a copay and a percentage share is 'coinsurance'; in Turkey both are usually called 'katılım payı'.

Example sentences

  1. With this plan, you pay a 20 percent co-payment for outpatient visits.

  2. The co-payment for each doctor visit is 300 lira.

Common collocations

  • pay a co-payment
  • co-payment per visit
  • plan with co-payment
  • fixed co-payment
  • deductibleThe part of each loss that the customer pays before the insurance company starts paying. A higher one usually means a lower premium.
  • health insuranceInsurance that pays for medical costs such as doctor visits, tests, hospital stays and surgery, up to the limits in the policy.
  • outpatientDescribing medical care, such as a doctor visit, test or minor procedure, where the patient does not stay in hospital overnight.
  • premiumThe amount of money a customer pays to an insurance company for a policy, usually once a year or in monthly instalments.

More terms: Life & Health Insurance

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This page explains English vocabulary for learners. It is not financial advice.