The yearly preset amount before the insurance company pays their portion is the:

Question

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The deductible is the amount of money that the insured person must pay out of pocket first before the insurance company pays for the remaining expenses. The premium is the amount paid to the insurance company to maintain coverage, the copay is the set amount paid by the patient at each visit, and coinsurance is the percentage the patient pays after the deductible has been met.

The Yearly Preset Amount Before the Insurance Company Pays Their