What is the fee a patient pays when picking up a prescription known as?

The fee a patient pays when picking up a prescription is known as a co-payment. This amount is a fixed fee that patients are responsible for at the time of service, which applies specifically to medications dispensed at a pharmacy. Co-payments are designed to share the cost of healthcare services between the insurance provider and the patient.

In the context of health insurance, a co-payment encourages responsible use of healthcare services while also providing a predictable out-of-pocket cost for patients when they fill prescriptions. This contrasts with other terms in the options provided. A deductible refers to the amount a patient must pay out-of-pocket for healthcare before insurance starts to cover costs, while a premium is the regular payment made to maintain insurance coverage. Co-insurance, on the other hand, is a percentage of the cost that the patient must pay after meeting the deductible, rather than a fixed fee at the time of receiving a medication. Understanding these distinctions helps clarify why the correct term for the fee paid at the pharmacy is the co-payment.