What is the portion of the medication price that an insured patient has to pay called?

The portion of the medication price that an insured patient has to pay is referred to as a co-pay. A co-pay is a fixed amount that the patient pays for a specific service, medication, or treatment at the time of service or purchase, with the remaining balance being covered by their insurance plan. This structure is designed to make healthcare more affordable while still sharing costs between the insurer and the insured.

In many insurance plans, co-pays can vary depending on the medication, the type of pharmacy, and the specific terms of the patient's health plan. By requiring a co-pay, insurance plans encourage patients to engage with their healthcare while maintaining some accountability for costs.

Understanding the role of a co-pay is valuable for both patients and healthcare providers, as it affects how medications are chosen and how care is accessed. For example, patients may opt for generic medications or alternative treatments if they are faced with high co-pays.