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A copay, short for copayment, is a fixed amount a healthcare beneficiary pays for covered medical services. The remaining balance is covered by the person's insurance company. Copay refers to when policyholders have to bear a fixed part of their expenses towards medical treatment while the rest is borne by the insurer. This can either be as a.
copayment
(kō′pā′mənt)n. A specified sum of money that patients covered by a health insurance plan pay for a given type of service, usually at the time the service is rendered.
The American Heritage® Medical Dictionary Copyright © 2007, 2004 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved.
co·pay·ment
, copay (kōpā-mĕnt, kōpā) A fixed or set amount paid for each health care or medical service; the remainder is paid by the health insurance plan. In common parlance, copay is the term used.
See also: coinsurance, cost sharing
Synonym(s): out-of-pocket costs, out-of-pocket expenses.
See also: coinsurance, cost sharing
Synonym(s): out-of-pocket costs, out-of-pocket expenses.
Medical Dictionary for the Health Professions and Nursing © Farlex 2012
co·pay·ment
, copay (kōpā-mĕnt, kōpā
) That portion of a dental care charge for which the patient herself, rather than a third party payor (i.e., insurer), is responsible.
Medical Dictionary for the Dental Professions © Farlex 2012
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Copay Meaning In Medical Billing Code
Link to this page:Copay Medical Plan
PR - 3 Co-payment Amount
Description:
Copayment A specified dollar amount or percentage of the charge identified that is paid by a beneficiary at the time of service to a health care plan, physician, hospital, or other provider of care for covered service provided to the beneficiary.
Cost Sharing The general set of financial arrangements whereby the consumer must pay out-of-pocket to receive care, either at the time of initiating care, or during the provision of health care services, or both. Cost sharing can also occur when an insured pays a portion of the monthly premium for heath care insurance.
Action:
1. We need to bill the patient.
2. If there is any other insurance coverage if the patient has, we can bill to that insurance also.
Description:
Copayment A specified dollar amount or percentage of the charge identified that is paid by a beneficiary at the time of service to a health care plan, physician, hospital, or other provider of care for covered service provided to the beneficiary.
Cost Sharing The general set of financial arrangements whereby the consumer must pay out-of-pocket to receive care, either at the time of initiating care, or during the provision of health care services, or both. Cost sharing can also occur when an insured pays a portion of the monthly premium for heath care insurance.
Action:
1. We need to bill the patient.
2. If there is any other insurance coverage if the patient has, we can bill to that insurance also.