deductible

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payment

 [pa´ment]
remuneration in exchange for goods or services.
prospective payment payment to a health care facility at a predetermined rate for treatment regardless of the cost of care for a specific individual patient.
third party payment payment of hospital or other health care bills by a source other than the patient; the most common sources are private or governmental insurance. Called also third party reimbursement.

de·duc·ti·ble

(dĕ-dŭk'ti-bĕl)
The amount for which the insured is responsible before the health care plan pays; amount usually set on an annual basis.
Synonym(s): annual deductible.

de·duc·ti·ble

(dĕ-dŭk'ti-bĕl)
The amount for which the insured is responsible before the health care plan pays; amount usually set on an annual basis.
Synonym(s): annual deductible.
References in periodicals archive ?
In Situation 4, A is an eligible individual for the purpose of making HSA contributions, because the health FSA and HRA pay or reimburse medical expenses only after the HDHP's minimum annual deductible is satisfied.
For family coverage, the minimum and maximum annual deductibles are $3,000 and $3,500, respectively; the maximum out-of-pocket limitation is $5,500.
Out-of-network services come with annual deductibles of $295 per person and $885 per family, annual maximum out-of-pocket expenses of $1,750 per person and $5,250 per family, and a 30-percent copayment on a reduced rate for covered services.
Negotiators added substance abuse and psychiatric treatment programs, increased the lifetime maximum on major medical benefits from $50,000 to $500,000, established annual maximum out-of-pocket expenses of $1,000 for individual coverage and $1,500 for family coverage, and raised the annual deductible from $50 to $100 per individual.
The annual deductible was boosted over the term by $50, to $150, for single coverage and by $150, to $450, for family coverage.
Because total charges were higher in scenario 3 (largely due to hospitalization and surgery), the annual deductible accounted for a small percentage of expenses.
These plans commonly require the participant to satisfy an annual deductible before they pay benefits, and they impose a ceiling on the amount of benefits a participant will receive in a lifetime.
Employees also would have the option to keep the current traditional basic/ major medical plan that requires a 20percent employee copayment after the annual deductible is reached.

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