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Zero dollar copay means there is no costs to you for that specific product or service provided. For instance, if a prescription drug plan offers "zero dollar copays for generics" then any generic drug that is covered under the plan would cost you zero money. The reason insurance companies use the term "zero dollar" is to avoid using the term "free." The product or service you receive at a zero copay is not free because you still must pay the monthly premium for the plan.
What else can I help you with?
What is the correct procedure to collect a copayment on a managed care plan?
Collect the copayment when the patient arrives for the office visit
Does a Medicaid patient have to be rescheduled if he does not have a copayment?
Whether a patient who doesn't have a copayment must be rescheduled is probably a matter between the patient and the provider.
What happens if the doctors office routinely wave the copayment?
If the doctor's office routinely waves the copayment, it means they are willing to settle for whatever the insurance pays. Copayments range in price depending on your policy.
Is it true that a copayment is a sum of money paid at the time of the medical service and is a form of co-insurance?
Its true
What word means a small fee that a patient with managed care health insurance may have to pay when visiting a doctor?
copayment
Which of these terms is the amount of money you must pay each year to cover your medical care expenses before your insurance policy starts paying?
Deductible- A+ The deductible is the terminology. Note that depending upon the terms of the policy, there may be both an individual deductible (that is, per person), and a family deductible. Once the deductible has been met, the insurer's responsibility for payment is triggered. However, that responsibility may be modified by a copayment. The copayment is that portion of a covered expense for which the insured remains responsible. In a sense, it is a form of self-insurance that you have selected at the inception of the policy. In general, the greater the copayment percentage, the lower the premium.
What is the current procedure to collect a copayment on a managed care plan?
The answer varies from office to office. Consult your office's practice manager for advice specific to your location.
Does co-insurance refers to a fixed fee that must be paid by the patient at time of office visit?
No; this is a copayment (or "copay"). A co-insurance is a percentage that the insured is responsible for after meeting their deductible.
Why might repeatedly forgiving copayments constitute fraud on the insurance company?
I had to answer this too and it was difficult. I believe the answer is: Because the doctor is in effect misstating the true fee, resulting in overpayment (if a bill is $100 and the copayment is $20, then the insurance company will pay $80. BUT if they excuse your copayment which you are SUPPOSED to pay, they then bill the insurance company $100 instead of only $80. that means they are misstating the true amount that is due and the insurance company is overpaying) i hope that helps!!
You have Medicare as primary insurance and BCBS as secondary insurance Do you pay the copay on the secondary insurance?
The answer to this question depends on what kind of secondary insurance you have - is it a group health plan? Is it a supplement? If Medicare is primary, there are still deductibles, copays, coinsurance that would need to be satisfied by your secondary insurance. Based on your question, I'm assuming that you have a group health plan with a copayment as your secondary insurance. If so, then yes, you would pay your copayment but it would not exceed the part B deductible.
Why there is compulsory deductible in insurance policies?
One to avoid smaller claims preferred by the insured - two treated as a copayment since the insured who prefers the claim should share a meagre portion of the liability.
What is the definition of the word copayment?
The definition of co-payment is a relatively small fixed fee required by a health insurer (as an HMO) to be paid by the patient for certain medical expenses. This can be at the time of office visits, outpatient service or filling of a prescription.
