Question

Match the term with the correct definition.

1. premium
2. deductible
3. coinsurance
4. copayment
5. out-of-pocket costs

the set amount an insured individual must pay for covered health care services before the insurance plan starts to pay

the amount an individual or business must pay for an insurance policy

the expenses of medical care that are not reimbursed by the insurance company

the percentage of the cost of a covered health care service an insured individual pays after meeting the deductible

a fixed fee that a health insurance plan requires in order to receive a specific medical service or supply

Answer 1

A deductible is the maximum amount that the policyholder must pay out-of-pocket before insurance coverage starts.

Step-by-step explanation:

A deductible is the maximum amount that the policyholder must pay out-of-pocket before the insurance company pays the rest of the bill. A copayment is a fixed fee that an insurance policy-holder must pay before receiving services. Coinsurance requires the policyholder to pay a certain percentage of costs.

Answer 2

1. Deductible the set amount an insured individual must pay for covered health care services before the insurance plan starts to pay

Step-by-step explanation:

1. Deductible the set amount an insured individual must pay for covered health care services before the insurance plan starts to pay

2. Premium the amount an individual or business must pay for an insurance policy

3. Out-of-pocket the expenses of medical care that are not reimbursed by the insurance company

4. Coinsurance the percentage of the cost of a covered health care service an insured individual pays after meeting the deductible

5. Co-payment a fixed fee that a health insurance plan requires in order to receive a specific medical service or supply