Mrs. Carter must pay $15 each time she visits her physician. This payment is called a what?

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Multiple Choice

Mrs. Carter must pay $15 each time she visits her physician. This payment is called a what?

Explanation:
A fixed amount paid at the time of a medical visit is called a copayment (often written co-payment). This is a form of cost sharing in many health plans: you pay the set amount when you receive a service, and the insurance covers the remaining eligible charges. It isn’t a deductible, which is the amount you must pay out of pocket before the insurer starts paying in a given year, nor a premium, which is the regular payment to keep the plan active. So paying $15 each visit fits the idea of a copayment.

A fixed amount paid at the time of a medical visit is called a copayment (often written co-payment). This is a form of cost sharing in many health plans: you pay the set amount when you receive a service, and the insurance covers the remaining eligible charges. It isn’t a deductible, which is the amount you must pay out of pocket before the insurer starts paying in a given year, nor a premium, which is the regular payment to keep the plan active. So paying $15 each visit fits the idea of a copayment.

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