What is the term for the amount of money that must be paid each year for services before the insurance company begins to pick up the payments?

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The term for the amount of money that must be paid each year for services before the insurance company begins to pick up the payments is called a deductible. A premium is the amount of money paid to the insurance company to maintain coverage, while a benefit refers to the amount paid by the insurance company for a particular service or treatment. Assignment refers to a patient's transfer of the right to receive payment from their insurance company to a healthcare provider.

What Is the Term for the Amount of Money That