Definition: A drug copay is your share of the cost of a prescription. The remaining cost is paid by your health plan.
Also Known As: drug co-payment
Examples:In many health plans, the copay for a brand name prescription drug is $25 for a 30-day supply. If a 30-day prescription for Diovan (a medication used to treat hypertension) is $78 for a 30-day supply, you pay the drugstore a copay of $25 and the pharmacy bills your health plan for $53.
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