Samuel works for a company that provides health care benefits to all its insured employees. However, every time Samuel visits a physician, he is required to pay a fixed amount of $20 from his own pocket, whereas the rest of the amount is covered by the medical insurance. The $20 that Samuel has to pay is an example of a(n) _____.

Question

Quizplus · Accepted Answer

The $20 that Samuel has to pay is called copayment, which is a fixed amount paid out of pocket by the insured party at the time of receiving medical treatment or purchasing prescription drugs.

Samuel Works for a Company That Provides Health Care Benefits