COPAY

EXAMPLE:

John Doe has a health insurance policy. His policy has a $100 copay – for X-rays. On February 1, 20XX, Mr. Doe suffers an ankle injury. So, he goes to the hospital. The hospital bills him $1,000 (for performing an X-ray). Due to the copay on his policy, John Doe must pay $100. Upon satisfying his copay, his health insurance policy pays the remainder of the X-ray bill (ie, $900).