What Does Copay Mean In Health Insurance?

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   Ted Ratliff

   Owner, SFS Associates,

   A copay is a set amount of the bill you are responsible for.  For example, if your policy has a $20 copay for doctors visit, and your doctor charges $100 per visit, your company pays $80 and you pay $20.  If your doctor charges $150, you still only pay $20  Coinsurance is a percentage of the bill you may be responsible for.  If you have a plan with 80/20 coinsurance and you have a $10,000 hospital bill, you will be responsible for $2000 (20%) and your company pays the balance

   Answered on May 31, 2013

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