Everyday life
You have health insurance and visit a doctor. What is a "copay"?
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✓ A fixed amount you pay at the visit, such as $30
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B The yearly price of the insurance plan
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C A bonus the insurer pays you for staying healthy
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✕ A fee the doctor pays to the insurance company Your answer
Not quite.
A copay (copayment) is a set fee you pay when you get a service, like a doctor visit or a prescription. The insurer pays the rest of the covered cost.
Source: HealthCare.gov glossary: Copayment