copay

copay definition - business

copay

The payment required of a health plan participant for a covered good or service. For example, a health insurance policy might require a $10 copay for the purchase of a generic drug.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

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