Question

A ______ is a monthly payment to purchase and continue insurance coverage. A _______ is how much money you must pay before your insurance begins to pay for medical services. A _____ is a flat fee you must pay every time you see the doctor and _______ is a percentage you must pay in addition to other fees.

1) Deductible, premium, coinsurance, copay
2) Premium, deductible, copay, coinsurance
3) Premium, copay, deductible, coinsurance
4) Copay, coinsurance, deductible, premium

Answer 1

The correct terms for the blank spaces are premium, deductible, copay, and coinsurance, in that order.

Step-by-step explanation:

The correct option to fill in the blanks is: Premium, Deductible, Copay, Coinsurance.

1. A premium is the monthly payment made to an insurance company to purchase and maintain insurance coverage.
2. A deductible is the amount of money that a policyholder must pay out-of-pocket before the insurance coverage starts to contribute to the costs of medical services.
3. A copay (copayment) is the flat fee that an insured individual pays each time they receive a service, such as visiting a doctor.
4. Coinsurance is a percentage of the medical costs that the policyholder pays after meeting the deductible and apart from any copay fees required.