Question

The copayment provision deals with the amount that someone will pay for a bill such as 20oinsurance

Answer 1

False, every time you obtain a covered service, you must pay a fixed amount known as the copayment.

What is the meaning of copayment?

• A set fee ($20, for instance) you pay for a covered medical procedure once your deductible has been met. Take, for example, your health insurance policy. acceptable price. The most a plan will spend on a covered medical service.
• For medicines, medical visits, and other sorts of treatment, you must pay a copay. The portion of costs you bear after reaching your deductible is known as coinsurance.
• Your coinsurance does not begin to cover all of the cost of your drugs and medical services until you have met your deductible.
• Co-payments, also known as "co-pays," are a type of cost-sharing. You will pay a certain sum of money for a service ($3, $15, $40, etc.). No matter how much the doctor or hospital charges for the service, the amount is the same.

Learn more about copayment refer to :

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