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Medical Billing MCQs

What is a deductible?

A specified amount of annual out-of-pocket expense for covered medical services that the insured must incur and pay each policy year

The percentage that the policy will pay for a covered procedure

The percentage that the policy will pay for diagnostic, lab and x-ray procedures

The amount of out-of-pocket expenses that the insured/patient will have to incur in order for the policy to begin to pay at 100%

Answer

Correct Answer: A specified amount of annual out-of-pocket expense for covered medical services that the insured must incur and pay each policy year

Explanation:

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