copayment

[koh-pey-muhnt]

noun

1. a contributory payment by an employer, usually matching that of an employee, toward the payment of healthcare or life-insurance premiums, a pension fund, etc.

copayment

/ kəʊˈpeɪmənt /

noun

1. a fee paid by a subscriber to a service for the use of additional services not covered by the subscription

Word History and Origins

Origin of copayment¹

co- + payment

Example Sentences

But to gain access to the Medicare market, the company has agreed to sell either drug for $245 plus a $50 patient copayment.

Read more on The Wall Street Journal

Medicare copayment for eligible beneficiaries will be $50.

Read more on Barron's

Also, in a number of plans, medications that now come with a flat copayment will next year require “coinsurance,” a charge that represents a percentage of the medication’s total cost.

Read more on The Wall Street Journal

Assuming a patient copayment of 20%, that would mean at least $18,000 in out-of-pocket spending.

Read more on Salon

An additional three states and the District of Columbia require coverage of over-the-counter contraception without a prescription but don’t specify whether a copayment may be required.

Read more on Seattle Times