A copay, or copayment, is a fixed amount that you pay out of pocket for a covered health care service after youve paid your deductible. It is a standard part of many health insurance plans and is usually paid at the time of service. Copays can vary for different services within the same plan, like drugs, lab tests, and visits to specialists. Plans with lower monthly premiums usually have higher copayments, while plans with higher monthly premiums usually have lower copayments. Copays cover your portion of the cost of a doctors visit or medication. If you have paid your deductible, you pay the copay flat fee at the time of service (at the pharmacy or doctors office, for example) . Copays and coinsurance are not the same things. Coinsurance is a percentage of the bill, while a copay is a fixed amount. Copays and coinsurance can work together, and if you have reached your deductible, you will pay only the copay.