Which term refers to the portion of the bill a patient is required to pay each year?

Which term refers to the portion of the bill a patient is required to pay each year?

• A. Copayment
• B. Coinsurance
• C. Deductible
• D. Maximum Out-of-Pocket

Answer: (C)

Deductible is the amount you pay for covered services before your health plan begins to pay. This is typically an annual amount, so describing the portion of the bill you must pay each year before the plan covers costs matches the deductible. The other terms differ: a copayment is a fixed fee paid per visit, coinsurance is a percentage of costs you pay after meeting the deductible, and the maximum out-of-pocket is the yearly cap on what you pay, after which the plan pays the rest.

Deductible is the amount you pay for covered services before your health plan begins to pay. This is typically an annual amount, so describing the portion of the bill you must pay each year before the plan covers costs matches the deductible. The other terms differ: a copayment is a fixed fee paid per visit, coinsurance is a percentage of costs you pay after meeting the deductible, and the maximum out-of-pocket is the yearly cap on what you pay, after which the plan pays the rest.