What is the term for the amount of medical expense that the insured must pay before the insurance carrier begins paying quizlet?
Asked by: Dorris Gerhold | Last update: September 8, 2023Score: 4.1/5 (55 votes)
Coinsurance is the amount of medical expense that the insured must pay before the insurance carrier begins paying benefits.
What is the term for the amount of medical expense that the insured must pay before the insurance carrier begins paying?
The amount you pay for covered health care services before your insurance plan starts to pay. With a $2,000 deductible, for example, you pay the first $2,000 of covered services yourself. A fixed amount ($20, for example) you pay for a covered health care service after you've paid your deductible.
What is an amount that you must pay before the insurance company pays a claim quizlet?
A deductible is a set amount you must pay toward medical expenses before the insurance company pays benefits.
What is the amount that must be paid out of pocket before the insurance company begins to pay quizlet?
A deductible is the amount of money that must be paid out of pocket before the insurance begins paying for services provided.
Is a certain amount of allowable or covered medical expense the insured must incur before the insurance carrier will begin paying benefits?
This amount is called a deductible. Remember, plans vary in what they pay. No plan will pay 100 percent of your medical expenses, but some plans will pay more than others. Deductibles are the amount of the covered expenses you must pay each year before your plan starts to reimburse you.
Medical Expense Insurance
What is the amount paid by the subscriber before the insurance benefits start to pay?
Deductible: The amount you must pay for health care services in a plan year before insurance starts paying; this typically resets each plan year and may be separate for each member. Copays and premiums DO NOT typically count towards your deductible.
What is the amount of money the insured must pay at each appointment before the health plan will pay out anything for that particular visit or?
A fixed amount ($20, for example) you pay for a covered health care service after you've paid your deductible. The maximum amount a plan will pay for a covered health care service. May also be called “eligible expense,” “payment allowance,” or “negotiated rate.”
What is the amount that the insured must pay on a claim before the insurance company pays on the claim?
Deductible: The amount that the insured must pay each policy year to cover medical care expenses before the insurance policy starts paying. Deductibles are typically a set amount annually, but some plans require a deductible based on diagnosis rather than based on time.
What is the term for the amount the insured patient pays out-of-pocket for a service?
Deductible: With a deductible, you pay the entire amount allowed for all services provided until the deductible is met. If your insurance has a $1,000 annual deductible, you would pay the entire $85 allowable to the doctor.
What is the amount you have to pay out-of-pocket for expenses before the insurance company will cover the remaining costs?
Deductible: Your deductible is the amount you must spend first on eligible medical costs before insurance kicks in and starts paying its share. Generally, any costs that go towards meeting your deductible also go towards your out-of-pocket maximum.
What is an amount individual must pay before the insurance company pays anything?
Deductible - The amount you pay before your insurance company covers any costs. For example, if your deductible is $1,000, your plan will not pay anything (except services that are exempt from the deductible such as preventive care) until you have met your $1,000 deductible.
What is the name of the amount one is required to pay toward a claim before one's insurance kicks in and pays the rest of the bill?
A deductible is a set amount you have to pay every year toward your medical bills before your insurance company starts paying. It varies by plan and some plans don't have a deductible.
What's the correct term for the total amount of money that patients owe to a medical practice?
Account receivable (AR)
What is the term for an amount paid directly to a provider by a patient before the patient's insurance carrier will begin paying for services?
Deductible - A fixed dollar amount during the benefit period - usually a year - that an insured person pays before the insurer starts to make payments for covered medical services. Plans may have both per individual and family deductibles. Some plans may have separate deductibles for specific services.
What is the term for the amount of money that the insured pays the insurance company each month a finder's fee?
Premium. The ongoing amount that must be paid for your health plan. You and/or your employer usually pay it monthly, quarterly or yearly. The premium may not be the only amount you pay for insurance coverage.
What is the term for the amount the insured has to pay before the insurance policy pays out in the event of an insurance claim?
Deductible - The portion of a loss considered the responsibility of the insured before an insurer becomes liable for payment. The deductible is usually a stated dollar amount of the loss.
What is it called when a patient pays a set amount of money for their medication?
What is a co-payment or co-pay? -An amount of money paid by the insured person in according to the term of the insurance. - ex: a prescript drug insurance policy might require the patient pay a $45 co-pay for brand name, prescription drugs and a $10 co-pay for generic prescription drugs.
What is it called when a patient pays a set amount of money for their medication select one?
Once you've paid your premium, most plans give you a discount on how much you pay for doctor visits and drugs – only making you pay a small portion or fixed amount, called a co-pay.
What do you call the portion of the medical fees that the patient needs to pay at the time of services?
The portion of the medical fees that the patient needs to pay at the time of services is called: co-pay.
What is the amount the insured pays on a claim before the insurer pays the policy remainder?
Deductible: The amount the insured pays on a claim before the insurer pays the policy remainder.
What is the amount paid by an insured to an insurance company to obtain or maintain an insurance policy?
Premium - The amount paid by an insured to an insurance company to obtain or maintain an insurance policy.
What is the amount of money the insured must pay on each loss before the insurance will pay anything for that particular loss?
Deductible—The amount of the loss that you must pay before your insurance company pays anything. Only comprehensive and collision coverage have deductibles.
What is the amount of money that an individual pays to a healthcare provider before an insurance company will offer reimbursement called?
Deductibles. The amount a patient pays before the insurance plan pays anything. In most cases, deductibles apply per person per calendar year. With preferred provider organizations (PPOs), deductibles usually apply to all services, including lab tests, hospital stays and clinic or doctor's office visits.
What is the term for the person who is the holder of the insurance policy?
A policyholder (or policy holder) is the person who owns the insurance policy. In most cases, the policyholder is the only person who can change the policy. The policyholder is also the person that is responsible for making sure premium payments are up-to-date.
What is the monetary amount patients must pay to the provider for health care services before health insurance benefits begin to pay?
Deductible: How much you have to spend for covered health services before your insurance company pays anything (except free preventive services) Copayments and coinsurance: Payments you make to your health care provider each time you get care, like $20 for a doctor visit or 30% of hospital charges.