co-payment
nounUK /ˌkəʊˈpeɪmənt/
US /ˌkoʊˈpeɪmənt/
A small amount of money you pay yourself when you get something like medicine or a doctor's visit.
My mom paid a ten-dollar co-payment at the pharmacy for my medicine.
RELATED WORDS
OTHER MEANINGS
2. A split of costs where two parties each pay a portion of a bill.
The company and the client agreed on a co-payment for the repairs.
3. A fixed fee a patient pays at the time of receiving a medical service.
The co-payment for the eye exam was twenty dollars.
4. Any small out-of-pocket charge required alongside a larger payment by another party.
Renters made a co-payment toward the new roof.