Schmidt was sent off by the referee for insulting Hoffenheim's Julian Nagelsmann in Saturday's 3-0 home loss.
"That was nothing, what sort of a nutcase are you? Just shut your mouth," Schmidt shouted after going 2-0 down.
The 49-year-old has been banned for two games and handed a 15,000 euros (£13,373) fine.
The German was sanctioned after triggering a suspended sentence from February this year.
He had been banned for three games, with a further two in the event of a repeat offence before June 2017, for refusing a referee's order to leave the sidelines during a 1-0 defeat to Borussia Dortmund.
Schmidt will be unable to have any contact with the team for half an hour before, during and after Tuesday's German Cup second-round match against Lotte and Saturday's league match against Wolfsburg.
Leverkusen's director of sport Rudi Voller has sought a meeting with the head of the disciplinary committee.

Conte's move to Stamford Bridge was announced in April and he will take over when his Italy contract expires at the end of this summer's tournament.
Ventura, 68, most recently coached Serie A side Torino and led them to 12th in the league last season.
His five-year tenure at the club - including promotion from Serie B in his first year - came to an end in May.
Ventura's only managerial trophy is a third division title with Lecce in 1996, but Italian football federation president Carlo Tavecchio described him as a "master of football".
Tavecchio also called Ventura an "innovative" coach with "limitless experience" who has helped many players reach the national side.
He will have a two-year deal until the end of the Russia 2018 World Cup and is expected to take several of his key staff from Torino to the Italy set-up.
Conte announced in March that he would step down as Italy coach after Euro 2016.
Italy face Belgium, Sweden and Ireland in Group E.

Kathleen and Jimmy Cuddihy, who were in their 70s, were found dead just outside Carndonagh on 22 October 2014.
Their son, Julian Cuddihy, appeared at Dublin's Central Criminal Court on Tuesday.
The court heard he admitted killing his parents but the jury must decide his mental state at the time.
Counsel for the prosecution told the jury that forensic psychiatrists for both the prosecution and the defence are in agreement and will give evidence that Mr Cuddihy was suffering from paranoid schizophrenia at the time.
The psychiatrists will also say that Mr Cuddihy, who was 42-years-old at the time, believed he was carrying out his parents' wishes and was helping them to secure a place in heaven.
The jury heard evidence from a post-mortem examination that the couple had severe head injuries.
The court was told that an axe and scissors were found at the scene.
Julian Cuddihy was arrested a short time later after it became known he had taken his father's car to a lake area near Clonmany.
The court heard that after his arrest, Mr Cuddihy asked gardai (Irish police) if they were telling him his parents were dead.
Mr Cuddihy has been receiving treatment at the Central Mental Hospital in Dundrum since his arrest.
The trial continues.
Bayer Leverkusen head coach Roger Schmidt has been banned and fined for calling an opposing manager "a nutcase" during a Bundesliga game.
[NEXT_CONCEPT]
Italy will replace Chelsea-bound national coach Antonio Conte with Giampiero Ventura after Euro 2016.
[NEXT_CONCEPT]
A man has pleaded not guilty by reason of insanity to the murder of his parents at their home in County Donegal almost two years ago.