What is a Copayment (per treatment)? April 11, 2020 14:25 Updated Follow Copayment means a fixed dollar amount that the Covered Person must pay before benefits are payable under the policy. Related articles What is a Deductible (per policy year)? When will I receive my ID card? What is the Premium Cost? What is an Extension of Benefits? What is an Out-of-pocket Expense Limit?