by Pawlicy Advisor
Pet Insurance Terms

What is a Co-Payment?

A co-payment, or co-pay, is the amount that you pay out of pocket for a covered service once you’ve hit your deductible. Co-payments will vary depending on the service performed. Typically insurance plans with lower co-payments have higher monthly premiums, while plans with higher co-payments will usually have lower monthly premiums.

How Co-Payments Work

Once you’ve hit your insurance plan’s deductible, you will only owe the co-payment to have an eligible service performed, and your insurer will pay for the rest. For example, if your copayment for a routine veterinary exam is $25, that is what you will pay out-of-pocket once you’ve hit your plan’s deductible.

Pet insurance does not typically have co-payments. Instead, you pay for the veterinary treatment out-of-pocket, and your pet insurance provider will reimburse you for eligible treatments based on your insurance plan. This saves you the hassle of having to check if your veterinarian is in-network.

Key Takeaways

  • Co-payments are the amount you’ll pay out-of-pocket for an eligible medical service after hitting your deductible.
  • The majority of pet insurance plans do not use copays and will reimburse you directly for eligible veterinary expenses.

Related Terms

Congenital Condition
A congenital condition is any bodily abnormality present upon birth. Though they exist at birth, congenital conditions are not always apparent at birth and may take years to discover.
Read More.
Coverage is what is covered by a particular pet insurance plan. Every pet insurance plan is unique and will cover different treatments, procedures, and illnesses.
Read More.
Coverage Requirements
Coverage requirements are the specific requirements your insurance claim must meet to receive reimbursement from your pet insurance provider.
Read More.

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