What are some common reimbursement terms I should know?
An example of an AI chatbot conversation about common reimbursement terms.
What are some common reimbursement terms I should know?
Common reimbursement terms include copayment, deductible, and out-of-pocket maximum. Would you like to know more about any specific term?
What is a copayment?
A copayment is a fixed amount you pay for a covered healthcare service, usually at the time of the visit.
How does a deductible work?
A deductible is the amount you pay for healthcare services before your insurance starts to pay. For example, if your deductible is $1,000, you pay that amount first.
What does out-of-pocket maximum mean?
The out-of-pocket maximum is the most you will pay for covered services in a plan year. After reaching this limit, your insurance covers 100% of the costs.
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