What is copay?
The Bankrate.com financial term of the day is: "Copay."
When you have health insurance to cover your doctor's appointments, hospital stays and other medical services, you're typically required to kick in at least a little bit of money out of your own pocket. If your share of the cost is a flat dollar amount, such as $20 per doctor visit, it's called a copayment, or copay. Often you pay this amount up front at the time of service.
A copayment or copay is a set fee that you cough up for medical services under a health care plan.
To get a quote on new insurance coverage, visit the Insurance section at Bankrate.com.
How did consumers respond when asked about job security, savings, net worth, and debt?
Comparison shopping will help you know deals from duds at a dollar store.
Looking to save money? Here are eight easy ways to save $5,000 in one year.
Just because you have a coupon doesn't mean you should shop. Know when to buy.
Trim the fat around your grocery budget with these money-saving tips.
Mortgage rates jumped this week.
New car loan rates fell 1 basis point each.
Bankrate wants to hear from you and encourages thoughtful and constructive comments. We ask that you stay focused on the story topic, respect other people's opinions, and avoid profanity, offensive statements, illegal contents and advertisement posts. Comments are not reviewed before they are posted. Bankrate reserves the right (but is not obligated) to edit or delete your comments. Please avoid posting private or confidential information, and also keep in mind that anything you post may be disclosed, published, transmitted or reused. We do not permit the inclusion of hyperlinks in comments and may remove any comment that includes a hyperlink.
Get cost-cutting tips for buying, selling and maintaining your wheels. Delivered monthly.
Car buyers are trading in their hybrids and electric cars for more gas-guzzling vehicles at a faster pace than ever before.
... Read more