Co-pay
A share of every health claim you pay yourself, with the insurer paying the rest.
Co-pay is the portion of each claim you agree to pay out of your own pocket. A policy with a 10% co-pay pays 90% of an approved bill and leaves 10% to you. A lower co-pay, or none, means the policy carries more of the cost when you actually claim.
Questions people ask
What is a co-pay in health insurance?
It is the portion of every approved claim you agree to pay yourself. With a 10% co-pay, the insurer pays 90% of the bill and you pay 10%.
Is a co-pay good or bad?
A co-pay usually lowers your premium but raises what you pay when you actually claim. A lower or zero co-pay costs more upfront but protects you more at claim time.
One money lesson, in your inbox
A short, plain money lesson built from real news. Free. Unsubscribe anytime.
We will never spam you or sell your details. How we handle your email