Which payment option typically has a set dollar amount that patients pay per visit?

A copayment, often referred to as a copay, is a fixed dollar amount that patients are required to pay at the time of receiving medical services. This payment structure is common in health insurance plans and serves as a cost-sharing mechanism between the patient and the insurer. For instance, a patient may be responsible for a $20 copayment each time they visit a primary care physician or specialist.

This option provides predictability for patients regarding their out-of-pocket expenses for routine services, as these costs are established in advance in their health insurance plan. The design of copayments encourages patients to seek medical care while also mitigating the total expenses a health plan must cover. Other payment options, like coinsurance and deductibles, operate differently; coinsurance involves paying a percentage of the cost of a service after deductibles are met, and a deductible is the total amount a patient must pay before their insurance begins to cover costs. A premium, on the other hand, is the regular payment made to maintain insurance coverage but does not pertain to specific visits or services.