copayment

American  

[koh-pey-muhnt] / koʊˈpeɪ mənt /

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.

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copayment British  

/ kəʊˈpeɪmənt /

noun

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

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Etymology

Origin of copayment

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.

From The Wall Street Journal

Medicare copayment for eligible beneficiaries will be $50.

From 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.

From The Wall Street Journal

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

From 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.

From Seattle Times