A small, fixed amount required by a health insurer to be paid by the insured for each outpatient visit or drug prescription is known as a

The term that describes a small, fixed amount that an insured individual must pay for each outpatient visit or prescription medication is known as a co-pay. A co-pay is designed to share the cost of healthcare services between the insurer and the insured, making healthcare more affordable while still encouraging responsible use of medical services.

In practice, co-pays are typically predetermined and can vary based on the type of service; for example, a co-pay for a doctor's visit might differ from that for a specialist or prescription drugs. This cost-sharing mechanism helps insurers manage expenses and can also motivate patients to consider the necessity of the services they are using.

Understanding co-pays is crucial for individuals as they plan their healthcare expenses, ensuring they are prepared for these costs when they seek medical care or fill prescriptions. This concept is a fundamental part of many health insurance plans, providing a balance between comprehensive coverage and out-of-pocket costs for patients.