What term describes the fixed amount a patient pays at the time of service for a covered visit?

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Multiple Choice

What term describes the fixed amount a patient pays at the time of service for a covered visit?

Explanation:
The fixed amount you pay at the time of a covered visit is a co-payment. It’s a set fee you pay regardless of the visit’s total cost, paid when you receive the service. This differs from a deductible, which is the amount you must pay before the insurer covers costs; coinsurance, which is the percentage you pay after the deductible is met; and a premium, which is the regular monthly payment to maintain the insurance coverage. For example, a plan might require a $20 co-payment for a primary care visit, paid at check-in, while the rest of the visit is billed to the insurer according to the plan’s rules.

The fixed amount you pay at the time of a covered visit is a co-payment. It’s a set fee you pay regardless of the visit’s total cost, paid when you receive the service. This differs from a deductible, which is the amount you must pay before the insurer covers costs; coinsurance, which is the percentage you pay after the deductible is met; and a premium, which is the regular monthly payment to maintain the insurance coverage. For example, a plan might require a $20 co-payment for a primary care visit, paid at check-in, while the rest of the visit is billed to the insurer according to the plan’s rules.

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