copay

[ koh-pey ]
/ ˈkoʊˌpeɪ /

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