Co-Pay
The fixed amount that you pay for each provider visit or prescription. The fixed amount can vary depending on the type of provider or prescription, but does not vary based on the services provided at a visit. HMO(HMO) A form of healthcare network, usually with fairly tight restrictions on which medical providers you can see and usually requiring you to see your primary care physician before you see a special... More plans are usually the only type of plans that have co-pays on doctor visits, while many plans use co-pays for prescriptions.
I am also a retired property-casualty actuaryA professional who assesses and manages the risks of financial investments, insurance policies and other potentially risky ventures. Source: www.investopedia.com/terms/a/actuary.asp More (someone who works with the math and statistics related to insurance). I spent a significant portion of my career building statistical models of all of the financial risks of an insurance company and interpreting their findings to help senior management make better financial decisions. I retired in my late 50’s, which one of my daughter’s friends thought clearly qualified me to write this blog. Read more about Susie Q