How much do copays typically cost?

A copay is a flat fee that you pay when you receive specific health care services, such as a doctor visit or getting prescription drugs. Your copay (also called a copayment) will vary depending on the service you receive and your health insurance plan, but copays are typically $30 or less. Copays are a form of cost sharing.

What is the difference between a copay and a deductible?

A deductible is the set amount of money you pay out of pocket for covered services per plan year before your insurance plan starts to pay. A copay is also a set amount of money, but it’s the fixed fee attached to certain covered services.

Do you have to pay a copay?

Copays are a specified dollar amount rather than a percentage of the bill, and they usually paid at the time of service. Not all medical services ask you for a copay. For example, some insurance companies do not require a copay for annual physicals. Copay fees vary among insurers but typically are $25 or less.

What is the purpose of a copay?

Copays are a form of cost sharing. Insurance companies use them as a way for customers to split the cost of paying for health care. Copays for a particular insurance plan are set by the insurer. Regardless of what your doctor charges for a visit, your copay won't change.