Which term describes a fixed amount paid for each healthcare service?

Which term describes a fixed amount paid for each healthcare service?

• A. Deductible
• B. Coinsurance
• C. Premium
• D. Copay

Answer: (D)

A fixed amount paid for a healthcare service is a copay. You pay this set fee at the time you receive care, such as a doctor’s visit, regardless of the total charge. Copays are predetermined by the plan and make costs predictable for the patient. This differs from a deductible, which is the amount you must pay out of pocket before insurance starts sharing costs in a policy period. Coinsurance is a percentage of the cost you pay after meeting the deductible. The premium is the regular monthly payment to maintain the insurance policy, not a per-service charge. So the fixed per-service payment best fits the term copay.

A fixed amount paid for a healthcare service is a copay. You pay this set fee at the time you receive care, such as a doctor’s visit, regardless of the total charge. Copays are predetermined by the plan and make costs predictable for the patient. This differs from a deductible, which is the amount you must pay out of pocket before insurance starts sharing costs in a policy period. Coinsurance is a percentage of the cost you pay after meeting the deductible. The premium is the regular monthly payment to maintain the insurance policy, not a per-service charge. So the fixed per-service payment best fits the term copay.