A deductible is the amount a patient is responsible for paying before insurance pays the rest. A high-deductible plan with a $2,000 deductible, for example, might offer a low monthly premium but requires the policy holder to spend $2,000 of his or her own money on medical care each year before insurance coverage kicks in.
If a person has insurance, he or she is responsible for a copayment, which is a set amount established between the insurance company and the provider. A copayment is a portion of the total cost of a drug or medical treatment. If a doctor???s office visit costs $100, and the patient pays $25, then the […]
A claim is a request for payment that a patient or health care provider submits to a health insurer when a patient receives services or products that are thought to be covered. Claims by health care providers are submitted to health plans in order to be paid.