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

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

• A. Co-payment
• B. Deductible
• C. Coinsurance
• D. Premium

Answer: (A)

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.