The yearly amount an insured person must spend out-of-pocket for health care services before a health insurance policy will begin to pay its share is known as the

Question

Quizplus · Accepted Answer

The deductible is the yearly amount an insured person must spend out-of-pocket for health care services before a health insurance policy will begin to pay its share. The premium is the monthly fee a person must pay for health care insurance coverage. The copayment is the amount an insured person must pay at the time of an office visit, when picking up a prescription, or before a hospital service. Coinsurance is the percentage of the total bill paid by the insured person after a deductible has been met. The remainder is paid by the insurance company.

The Yearly Amount an Insured Person Must Spend Out-Of-Pocket for Health