The physician bills $500; after submission, the claim is denied; the patient still owes $500 for the year. This amount is called which?

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Multiple Choice

The physician bills $500; after submission, the claim is denied; the patient still owes $500 for the year. This amount is called which?

Deductibles are the amount a patient must pay out-of-pocket before the insurer begins to pay for covered services. In this case, the patient still owes $500 for the year after the claim was denied, which indicates that amount has not yet been met toward the yearly deductible. Once the deductible is satisfied, the insurer’s payment responsibilities kick in per the plan’s terms. Copayments are fixed fees at the time of service, coinsurance is the patient’s share of costs after the deductible, and premium is the regular payment to keep the insurance policy active.

Deductibles are the amount a patient must pay out-of-pocket before the insurer begins to pay for covered services. In this case, the patient still owes $500 for the year after the claim was denied, which indicates that amount has not yet been met toward the yearly deductible. Once the deductible is satisfied, the insurer’s payment responsibilities kick in per the plan’s terms. Copayments are fixed fees at the time of service, coinsurance is the patient’s share of costs after the deductible, and premium is the regular payment to keep the insurance policy active.

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