Insurance Stuff Flashcards
1
Q
What does the acronym MAC (maximum allowable cost) refer to
A
The maximum price per unit the insurer will pay for a particular product
2
Q
A claim that is billed to two different insurance carriers is known as a
A
Split bill
3
Q
A counsel is
A
The procedure of a pharmacist instructing a patient about their medication or health
4
Q
The amount the patient must pay before the insurer will cover additional medical expenses
A
Deductible
5
Q
The maximum amount an insurer will pay for a given prescription, determined to be a usual and customary (and reasonable) price
A
U&C or UCR
