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)? What is the Premium Cost? What is an Out-of-pocket Expense Limit? When will I receive my ID card? What is PPO Allowance (term for “in-network”)?