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The amount that the policyholder pays on each claim is called Copay. Either a set amount like $10 for a MD visit or a percentage like 20%. The next question you might ask is - what if I have a $1,000,000 claim, do I have to pay $200,000. No, most policies have an "out of pocket maximum" of $2,000 to $5,000.

In other words copay is the amount of money that you have to pay during a doctor visit. Usually your insurance company will pay 100% of the doctors fees above your deductible. However, any lab tests are not included in the cost of the visit and will be subject to your deductible and coinsurance rules.

Another question you may ask is should I have a plan with it or not, the answer to this question varies from case to case. If you are required to have multiple visits to the doctors say 3 times a week due to a certain medical condition and if you have a copay of lets say $10 per visit. You are in this example spending $30 week alone on copay, and when you have a copay plan – the premium is also inversely proportional – the higher your copay is the lesser the premium is and the higher the premium the lesser your copay is.

The contrary to having copay is you can pick a plan with out any copay but pay a higher premium, that means you do not pay any amount you visit a doctor but have a higher premium.

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