Final answer:
A patient typically pays a copayment, or co-pay, at the time of service, which is a predetermined flat fee for healthcare services. Additionally, patients may also be responsible for deductibles and coinsurance, which are other forms of cost-sharing designed to minimize the moral hazard and promote cost awareness.
Step-by-step explanation:
The amount of money a patient pays at the time of service is known as a copayment or co-pay. This is a flat fee that an insurance policyholder must pay before receiving services. Aside from copayments, there may be other costs involved such as deductibles, which are amounts that must be paid out-of-pocket before the insurance starts to cover the costs, and coinsurance, which is a percentage of the costs that the policyholder must pay even after the deductible is met.
Different types of health plans, such as Health Maintenance Organizations (HMOs), may have different payment structures but often involve some form of co-pay. The co-pay amount can vary depending on the service — for example, $20 for a doctor's office visit or $250 for an emergency room visit. These cost-sharing mechanisms, including co-pays, are in place to reduce the moral hazard and ensure that policyholders are conscious of the costs incurred.