Answer:
A co-pay is a fixed out-of-pocket amount paid by an insured for covered services. It is a standard part of many health insurance plans. Insurance providers often charge co-pays for services such as doctor visits or prescriptions drugs. Co-pays are a specified dollar amount rather than a percentage of the bill, and they usually paid at the time of service.
Explanation:
Answer:
Co-pay is a fund that has to be given by the patient for the service he got while giving treatment to the service provider.
Explanation:
Co-pay stands for co- payment. It is a sum of total charge which has to be given by the patient whose organization for its services while treatment. This sum of money is not given as a form of advance payment but after the treatment.
If a person has medical insurance, he can claim it and reduce the amount of money that has to be given by him to the organization or the hospital.
A person has to give the payment every time he takes the service from the hospital. The name of this payment can differ according to the country or region but a person has to pay the sum of money after his treatment.
