co-payment

(noun)

A co-payment is the amount that the insured person must pay out of pocket before the health insurer pays for a particular visit or service.

Related Terms

  • deductible
  • premium

Examples of co-payment in the following topics:

  • Health Insurance

    • Some of the essential terms associated with health insurance are premiums, deductibles, co-payments, and explanations of benefits.
    • A co-payment is the amount that an insured person must pay out of pocket before the health insurer pays for a particular visit or service.
    • For example, an insured person might pay a $45 co-payment for a doctor's visit, or to obtain a prescription.
    • A co-payment must be made each time a particular service is obtained.
    • It also explains how payment amounts and patient responsibility amounts have been determined.
  • Medicaid and Medicare

    • Some states operate a program known as the Health Insurance Premium Payment Program (HIPP).
    • If a plan chooses to pay less than Medicare for some benefits, like skilled nursing facility care, the savings may be passed along to consumers by offering lower co-payments for doctor visits.
    • Medicare Advantage plans use a portion of the payments they receive from the government for each enrollee to offer supplemental benefits.
    • The matching rate provided to states is determined using a federal matching formula (called Federal Medical Assistance Percentages), which generates payment rates that vary from state to state, depending on each state's respective per capita income.
  • Impact of Payment Frequency on Bond Prices

    • Payment frequency can be annual, semi annual, quarterly, or monthly; the more frequently a bond makes coupon payments, the higher the bond price.
    • The payment schedule of financial instruments defines the dates at which payments are made by one party to another on, for example, a bond or a derivative.
    • F = face value, iF = contractual interest rate, C = F * iF = coupon payment (periodic interest payment), N = number of payments, i = market interest rate, or required yield, or observed / appropriate yield to maturity, M = value at maturity, usually equals face value, P = market price of bond.
    • However, the present values of annuities of coupon payments vary among payment frequencies.
    • The present value of an annuity is the value of a stream of payments, discounted by the interest rate to account for the payments are being made at various moments in the future.
  • Annuities

    • The payments are all a fixed size.
    • In return you make an initial payment (down payment), and then payments each month of a fixed amount.
    • The sum of all the payments will be greater than the loan amount, just as with a regular loan, but the payment schedule is spread out over time.
    • Mortgage payments are usually ordinary annuities.
    • Perpetuities: Payments continue forever.
  • The Acetyl-CoA Pathway

    • The acetyl-CoA pathway utilizes carbon dioxide as a carbon source and often times, hydrogen as an electron donor to produce acetyl-CoA.
    • Acetyl-CoA synthetase is a class of enzymes that is key to the acetyl-CoA pathway.
    • The acetyl-CoA synthetase functions in combining the carbon monoxide and a methyl group to produce acetyl-CoA. .
    • The ability to utilize the acetyl-CoA pathway is advantageous due to the ability to utilize both hydrogen and carbon dioxide to produce acetyl-CoA.
    • Describe the role of the carbon monoxide dehydrogenase and acetyl-CoA synthetase in the acetyl-CoA pathway
  • Trigonometric Limits

    • $\displaystyle{\lim_{x \to 0} \left ( \frac{1}{\cos x} \right ) = \frac{1}{1} = 1}$
    • This equation can be proven with the first limit and the trigonometric identity $1 - \cos^2 x = \sin^2 x$.
    • $\displaystyle{\frac{(1−\cos x)(1+\cos x)}{x(1+\cos x)}=\frac{(1−\cos^2x)}{x(1+\cos x)}=\frac{\sin^2x}{x(1+\cos x)}= \frac{\sin x}{x} \cdot \frac{\sin x}{1+\cos x}}$
    • $\displaystyle{\lim_{x \to 0}\left ( \frac{\sin x}{x} \frac{\sin x}{1 + \cos x} \right ) = \left (\lim_{x \to 0} \frac{\sin x}{x} \right ) \left ( \lim_{x \to 0} \frac{\sin x}{1 + \cos x} \right ) = \left (1 \right )\left (\frac{0}{2} \right )= 0}$
  • Trigonometric Integrals

    • \\ \int\sin^3 {ax}\;\mathrm{d}x = \frac{\cos 3ax}{12a} - \frac{3 \cos ax}{4a} +C\!
    • $\int\cos^2 {ax}\;\mathrm{d}x = \frac{x}{2} + \frac{1}{4a} \sin 2ax +C = \frac{x}{2} + \frac{1}{2a} \sin ax\cos ax +C$
    • $\int\cos^n ax\;\mathrm{d}x = \frac{\cos^{n-1} ax\sin ax}{na} + \frac{n-1}{n}\int\cos^{n-2} ax\;\mathrm{d}x \qquad\mbox{(for }n>0\mbox{)}$
    • $\int x^2\cos^2 {ax}\;\mathrm{d}x = \frac{x^3}{6} + \left( \frac {x^2}{4a} - \frac{1}{8a^3} \right) \sin 2ax + \frac{x}{4a^2} \cos 2ax +C$
    • Two simple examples of such integrals are $\int \sin^k x \cos x \; \mathrm d x$ and $\int \cos^k x \sin x\; \mathrm d x$ , which can be solved used the substitutions $u = \sin x$ and $u = \cos x$ , respectively.
  • Federal Income Tax Rates

    • Farmers' Loan & Trust Co., ruled that a tax based on receipts from the use of property was unconstitutional.
    • Baltic Mining Co., ruled that the amendment conferred no new power of taxation.
    • Advance payments of tax are required in the form of withholding tax or estimated tax payments.
  • Double and Half Angle Formulae

    • Deriving the double-angle formula for sine begins with the sum formula that was introduced previously: $\sin(\alpha + \beta) = \sin \alpha \cos \beta + \cos \alpha \sin \beta$.
    • $\displaystyle{ \begin{aligned} \sin(\theta + \theta) &= \sin \theta \cos \theta + \cos \theta \sin \theta \\ \sin(2\theta) &= 2\sin \theta \cos \theta \end{aligned} }$
    • $\displaystyle{ \begin{aligned} \cos{\left(2\theta \right)} &= \cos^2 \theta - \sin^2 \theta \\ &= \left(1- \sin^2 \theta \right) - \sin^2 \theta \\ &= 1- 2\sin^2 \theta \end{aligned} }$
    • $\displaystyle{ \begin{aligned} \cos{\left(2\theta\right)} &= \cos^2 \theta - \sin^2 \theta \\ &= \cos^2 \theta - \left(1- \cos^2 \theta \right) \\ &= 2 \cos^2 \theta -1 \end{aligned} }$
    • $\displaystyle{ \tan{\left(\frac{\alpha}{2}\right)} = \pm \sqrt{\frac{1 - \cos \alpha}{1 + \cos \alpha}} }$
  • Future Value of Annuity

    • The future value of an annuity is the sum of the future values of all of the payments in the annuity.
    • The future value of an annuity is the sum of the future values of all of the payments in the annuity.
    • For an annuity-due, the payments occur at the beginning of each period, so the first payment is at the inception of the annuity, and the last one occurs one period before the termination.
    • For an ordinary annuity, however, the payments occur at the end of the period.
    • This means the first payment is one period after the start of the annuity, and the last one occurs right at the end.
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