Final answer:
The amount for which a patient is responsible before a policy provides coverage is the deductible. A deductible is the maximum amount that the policyholder must pay out-of-pocket before the insurance company pays the rest of the bill.
Step-by-step explanation:
A deductible is the maximum amount that the policyholder must pay out-of-pocket before the insurance company pays the rest of the bill. A copayment is a flat fee that an insurance policy-holder must pay before receiving services. Coinsurance requires the policyholder to pay a certain percentage of costs. Deductibles, copayments, and coinsurance reduce moral hazard by requiring the insured party to bear some of the costs before collecting insurance benefits.