Michael Torres
CPA, Former IRS Revenue Agent
Copay
In This Article
Definition
Fixed amount paid for covered services like doctor visits or prescriptions, typically $20-50 depending on service.
Related Terms
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FAQs
Do copays count toward deductible?
Usually copays don't count toward deductible but do count toward out-of-pocket max.
Similar Terms
Gig Insurance
Insurance coverage for gig work activities, filling gaps in personal auto or liability policies.
Rideshare Insurance
Auto insurance endorsement or policy covering rideshare driving, filling gap between personal and platform insurance.
Liability Insurance
Insurance covering damages or injuries to others, important for service-based gig work.
Deductible
Amount you pay out-of-pocket before insurance coverage begins. Higher deductibles mean lower premiums but more cost when using insurance.
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