Chapter 2: Terms Related to Payment Flashcards
1
Q
What refers to payment received from health insurance companies?
A
Third-party Reimbursement.
2
Q
The Health insurance company is known as?
A
The Third-party payer, Insurance carrier or Insurer.
3
Q
What is a Deductible?
A
The amount of money that the patient must pay before the insurance reimbursements begin.
4
Q
What is a Coinsurance?
A
The percentage of costs a patient shares with their health insurance.
5
Q
What is a common example of Coinsurance?
A
The company pays 80% of the bill and the patient pays 20%.
6
Q
What is a Co-payment or Co-pay?
A
A specified dollar amount that the patient must pay to a health care provider for each visit or medical service received.
7
Q
Where does all these information is found?
A
On the patient’s insurance card.
