Massachusetts Pharmacy Technician License Practice Test

What is the portion of the price a patient must pay out-of-pocket for a prescription known as?

1. Deductible

2. Co-pay

3. Coinsurance

4. Premium

The correct answer is: Co-pay

The out-of-pocket cost that a patient is required to pay for a prescription is referred to as a co-pay. This is a fixed amount determined by the patient's insurance plan that they pay each time they receive a prescription or other medical service. Co-pays are often established for specific types of healthcare services and can vary based on the medication's classification, whether it's a generic or brand-name drug, or the patient's insurance policy. A deductible is the amount a patient must pay for covered healthcare services before their insurance plan starts to pay. Coinsurance refers to the percentage of costs a patient shares with their insurance after the deductible has been met. A premium is the amount a patient pays for their insurance coverage, usually on a monthly basis. Thus, in contrast to these terms, a co-pay specifically represents the fixed fee associated with obtaining a prescription.