Question

The fixed amount of money that an insured patient is required to pay each time he or she receives treatment is called the

Answer 1

A copayment is the fixed amount of money that an insured patient pays each time they receive treatment.

Step-by-step explanation:

The fixed amount of money that an insured patient is required to pay each time he or she receives treatment is called a copayment.

For example, a copayment might be a fixed amount like $20 for an office visit or $250 for an emergency room visit. It is a form of cost-sharing where the insured individual pays a set fee for each visit or service.

Other forms of cost-sharing in health insurance include deductibles and coinsurance.