What is an amount to be paid before insurance will pay quizlet? (2024)

What is an amount to be paid before insurance will pay quizlet?

Coinsurance is the amount of medical expense that the insured must pay before the insurance carrier begins paying benefits.

What is the amount of money paid per medical service before the insurance pays 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 payment that you make to pay for insurance called quizlet?

Households or firms with insurance make regular payments, called premiums. The insurance premium is income for the insurance company.

What is a specified amount that the insured party must pay before insurance starts paying?

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 amount of money the insured must pay at each appointment before the health plan will pay out anything for that particular visit or

Deductible - The amount you pay before your insurance company covers any costs.

What is the amount paid for insurance called?

An insurance premium is the amount of money an individual or business pays for an insurance policy. Insurance premiums are paid for policies that cover healthcare, auto, home, and life insurance. Once earned, the premium is income for the insurance company.

What term refers to the amount of money that a patient must pay before the insurance company starts providing benefits?

Deductible – The amount you must pay for medical services before your insurance company starts to pay. Diagnosis Code – A code used at the time of billing to describe your illness.

What is the amount that must be paid yearly by the patient before the insurance agency will begin making payments?

Deductible: This is the amount you must pay each year before your insurance begins to pay. Some policies have separate deductibles for prescription drugs and hospital care. Some policies have no deductible. Check your policy to learn how your deductible works.

What is the term for the dollar amount a person has to pay before an insurance plan takes effect and the insurance company starts paying?

Deductible: The amount you must pay out of your own pocket before your insurance company will start paying for services. (Example: If you have a $500 deductible per year, and each doctor's visit costs you $100, your insurance may not kick in until you've been to the doctor five times.)

What is the amount of money that you must pay before the insurance company will payout on your claim?

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 portion of insurance you are responsible for before the insurer pays?

A deductible is a predetermined amount that you must pay out-of-pocket before your insurance coverage starts sharing the costs. Until you reach this set amount, you are responsible for paying 100% of the services covered by your insurance plan.

What is the amount that the insured individual must pay before the health insurance company will contribute any funds to pay the medical bills?

Your deductible is the amount you have to pay be- fore your health insurance helps pay your bills.

What is the fee that the patient is responsible for paying before the insurance company will consider payment of the balance of charges?

Your deductible is a declining balance. You must pay the amount of your deductible before your insurance company begins to reimburse you for medical expenses. After you have paid your deductible, then you only need to pay co-insurance, or a portion of your medical expenses. Your health insurance company pays the rest.

What is the amount that the insured patient pays out-of-pocket for a health care office visit called?

Deductible- An agreed amount that a patient must pay before the insurance company will pay anything toward medical charges.

What is the name for the amount an individual has to pay before their insurance begins to pay for their bills?

Your deductible is the amount you must pay each year before your insurance begins to pay. If you have a grandfathered plan, you may have separate deductibles for prescription drugs and hospital care. Some policies have no deductible. Read your policy to learn how your deductible works.

What is the term for the amount the individual has to pay towards cost of treatment after the deductible has been paid?

The percentage of costs of a covered health care service you pay (20%, for example) after you've paid your deductible. The maximum amount a plan will pay for a covered health care service.

What term means the amount of money paid to the health care provider each time medical services are rendered?

Fee-for-service is a system of health insurance payment in which a doctor or other health care provider is paid a fee for each particular service rendered, essentially rewarding medical providers for volume and quantity of services provided, regardless of the outcome.

When the insured person pays an annual cost for healthcare insurance it is called what?

What is the amount of money that the patient must pay for medical services before the insurance carrier begins to pay quizlet?

-deductible. -remittance. A deductible is a specific amount of money a patient must pay out of pocket before the insurance carrier begins paying. The deductible amount is met on a yearly or per-incident basis.

Which two habits are the most important for building wealth and becoming a millionaire?

Investing and Time - The two habits that are the most important for building wealth and becoming a millionaire. Rate of return - The interest rate on a savings account determines your rate of return. dept - Debt is a tool to keep you from becoming wealthy.

What is an amount to be paid for an insurance policy?

Premium. The amount of money that you are charged to purchase or maintain your insurance coverage.

What is the money paid to an insurance company to purchase an insurance policy?

Premium - The amount paid by an insured to an insurance company to obtain or maintain an insurance policy.

What is an amount paid by a policyholder before the insurance company pays for damages?

Deductible - The amount of the loss that the policyholder is responsible to pay up-front before covered benefits from the insurance company are payable.

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 or to be paid by the policyholder for coverage under the contract usually in periodic installments?

Premium - The payment, or one of the periodic payments, a policyowner agrees to make for an insurance policy. Depending on the terms of the policy, the premium may be paid in one payment or a series of regular payments, e.g., annually, semi-annually, quarterly or monthly.