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copay

[koh-pey]

noun

a small fixed amount required by a health insurer to be paid by the insured for each outpatient visit or drug prescription.

Origin of copay

1970–75

Also called copayment [koh-pey-muh nt] /ˈkoʊˌpeɪ mənt/.

Dictionary.com Unabridged Based on the Random House Unabridged Dictionary, © Random House, Inc. 2019