Which term describes the payment the patient makes at the time of service to cover part of the cost?

• A. Deductible
• B. Copayment
• C. Coinsurance
• D. Premium

Answer: (B)

Copayment is the fixed amount a patient pays at the time of service to cover part of the cost. This payment is due when you receive the service, and the insurance company covers the rest according to the plan. It’s different from a deductible, which is the amount you must pay out-of-pocket before the insurance starts paying. It also differs from coinsurance, which is paying a percentage of the allowed amount after any deductibles are met. And it’s not the premium, which is the ongoing monthly payment to maintain coverage. For example, you might pay a $25 copayment for a visit; the remaining balance is billed to the insurer.