Understanding what terms like deductible, co-pay, and policy limit mean can help you understand what you're paying for and what you're covered for.
What is the meaning of co-pay in insurance?
Choose 1 answer:
Choose 1 answer:
(Choice A) an amount the insured must pay each time they receive a service that is covered by their insurance policy
A
an amount the insured must pay each time they receive a service that is covered by their insurance policy
(Choice B) the amount the insured must pay out of pocket before the insurance company will pay for a claim
B
the amount the insured must pay out of pocket before the insurance company will pay for a claim
(Choice C) the maximum amount the insurance company will pay for a claim
C
the maximum amount the insurance company will pay for a claim
(Choice A) an amount the insured must pay each time they receive a service that is covered by their insurance policy
Co-pay is the fixed amount that the insured individual must pay out of pocket each time they receive a covered service, such as a doctor's visit or prescription medication.