Copay
Most insurance policies come with something that is called a copay, or copayment. This is a fee that needs to be paid at certain times, usually with a doctor’s visit and when you buy prescriptions, before the insurance company will pay the rest. Here is some information about how this works.
Copay At The Doctor's Office
Generally, most policies will require you to make a copay with each doctor's visit. This can vary anywhere from $5 up to $45, with the most common copay being around $20. Copay for a doctor's office visit usually does not count toward the deductible amount that you pay each year.
It is important to note that this fee usually applies only to the doctor's visit, and not to any tests or extras that the doctor may need to perform while you are on your visit to his office. If blood tests or a urinalysis is ordered, then there may be additional charges on your insurance bill. This copay is sometimes referred to as a Doctor's Office copay.
Copay For Prescriptions
Whenever you purchase your prescriptions, as long as they are covered in your policy, you will probably make a copay with each one. It certainly can save you some money, but it can also add up to quite a bit if you have several prescriptions that need to be filled.
For Medicare enrollees, there is even a little different system. There are three levels of copay, depending on the type of prescription drugs you are buying. Before you make your purchase of the needed drugs, you need to be sure that the drugstore accepts your particular program, or you could end up paying 100% of the cost.
Copay Is Not Coinsurance
Making that copayment at the doctor's office may not be the end you will see of the bill. As it was mentioned earlier, it does not cover any of the tests, or anything that may be needed. What happens after the doctor sees you, and tests are ordered, then other details may kick in.
Your individual health insurance policy may have a limited amount that they will pay toward any doctor's visit, and it may be stated as $50, or $100 maximum. If your policy has this in it, then you subtract the copay, and their amount - and you pay the balance. Other health insurance plans may have the standard coinsurance apply where they pay the 80%, and you pay the remaining 20% - or whatever the terms are that the contract calls for. If you have not yet paid the deductible, then you may be paying all of it – up to the deductible amount.
Copay Is An Added Benefit
Your private health insurance benefit that gives you the option of making a copay with each office visit may be charging you for the privilege. It is even more when you have a family plan and a percentage is paid for each family member. This may be an option that you will want to discuss with your insurance agent and possibly remove so that you might even be able to save even more on your monthly premiums.
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Free Health Insurance Quotes
By comparing health plans with other rates, you should be able to find the right plan. You can get your free health insurance quotes at the following sites:
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