A deductible is an amount that must be paid before insurance pays for services not covered by a copay. For example, an insurance plan may have a $15 mental health visit copay. A copay is a set fee paid to receive a particular service. Understanding Benefits and Payments A person’s responsibility for healthcare claims includes copay, deductible, and coinsurance. There are several options, and this article will help you choose what works best for your practice. ![]() Having a plan in place to ensure you’re paid in a timely manner for services will improve the cash flow of your practice and reduce costs. Billing clients in the first few months of the year is tricky because you don’t know if they’ve met their insurance deductible or not - and it isn’t practical to inquire about every client’s status at every visit. Most plans operate on a calendar year, so the “deductible season” generally starts on January 1st. At the start of the insurance plan year, deductibles reset so many people are responsible for out-of-pocket payments to healthcare providers.
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