Loading

What Is A Co-Pay And How Does It Impact You?

What Is A Co-Pay?

What Is A Co-Pay And How Does It Impact You?

The Short Answer: A co-pay is a set amount you must pay out-of-pocket each time you use a particular service, such as a doctor visit. It impacts you if you have a specific insurance plan. So if a doctor visit is $100, you might pay a $10 co-pay and your insurance would pay $90, once you’ve met your deductible.

So, the co-pay is designed by your insurer to make you share in the cost of certain services, which are outlined in your plan. Not every service has a co-pay but the most frequently used services are very likely to have a co-pay, like doctor visits or ER visits. Typically the co-pay counts toward your deductible and out-of-pocket maximum but not always, so check your plan. Usually, once you meet your out-of-pocket maximum, the co-pay goes away for that year but again, check your plan. Don’t confuse co-pay with co-insurance which is explained here.

Want To Learn More?

Check Out These Other Resources

Learn More About Insurance And Buying Healthcare Online

uMedMarket

All About High Deductible Health Plans

High-deductible health plans (HDHPs) are more common than ever. The reason is simple, the cost is a lot less expensive than traditional plans like PPOs and HMOs. But there’s a lot of confusion about what exactly they are and how they work.

Read More »

Looking For Something Else?

We Can Help! Not only do we serve Greenville, Spartanburg, Simpsonville, Anderson, And Seneca, but for significant procedures like knee surgery, we can find exactly what you want for an amazing price. If you want the lowest cost, we can find it, or if you want the surgeon who does 200 of these procedures per year, we can find them too. Just Let Us Know!
Need More?