What is a copayment?
Copayment is a form of medical cost sharing in a health insurance plan that requires an insured person to pay a fixed dollar amount when a medical service is received. The insurer is responsible for the rest of the reimbursement. There may be separate copayments for different services. Some plans require that a deductible first be met for some specific services before a copayment applies.
A copayment is a flat dollar amount that you pay for specific services each time you use them, such as office visits. Copayments are not part of the annual deductible (if your plan has one), and are not applied to any out-of-pocket maximum. Each NYU health care plan has a schedule of benefits, with specified copayments for covered services.
A fee incurred by a member, usually at the time a covered service is provided. For most laboratory services, however, this fee is determined by the insurance plan after the service has been provided and is billed to you at a later date. This copay is in addition to the copay paid to your doctor in accordance with your plan.
