What is a "co-payment"?

What is a "co-payment"?

A co-payment is usually a $35, $25, $10 payment that you'd use when you go to a doctor's office. The doctor says, "It'll cost you $25 for this co-payment." The insurance company says they'll pay the doctor the balance; all you have to do is pay $25, or $35, whatever the co-payment. Usually, it's a very small, incidental fee to walk into the doctor's office. It's strictly for the consult. It doesn't cover a lot of expenses other than the consult. So when you see an internist for a bad cough, the doctor might have a fee of $180, but if you have a co-pay insurance program, you only pay $25 if it's a $25 copay program.