What is the percentage of remaining balance after deductible and amount paid by insurance?

Prepare for the Chiropractic Business Midterm Exam with comprehensive materials, including multiple choice questions and detailed explanations to enhance your understanding. Ace your exam with confidence!

Multiple Choice

What is the percentage of remaining balance after deductible and amount paid by insurance?

Coinsurance is the portion of the costs you pay as a percentage of the remaining allowed charges after you’ve met your deductible and after the insurer has paid its share. For example, if you’ve met the deductible and the allowed charges are $2,000 with your plan paying 80%, you would owe 20% of that remaining amount, which is $400, while the insurer pays $1,600. This continues until you reach your out-of-pocket maximum. Copayments are fixed per visit, deductibles are the amount you pay before coverage begins, and CPT codes are billing codes for procedures, not cost-sharing amounts. So the percentage of the remaining balance you pay after deductible and insurance is coinsurance.

Coinsurance is the portion of the costs you pay as a percentage of the remaining allowed charges after you’ve met your deductible and after the insurer has paid its share. For example, if you’ve met the deductible and the allowed charges are $2,000 with your plan paying 80%, you would owe 20% of that remaining amount, which is $400, while the insurer pays $1,600. This continues until you reach your out-of-pocket maximum. Copayments are fixed per visit, deductibles are the amount you pay before coverage begins, and CPT codes are billing codes for procedures, not cost-sharing amounts. So the percentage of the remaining balance you pay after deductible and insurance is coinsurance.

More practice questions