What Are Some Common Insurance Terms Nurses Should Know?
Understanding common insurance terms is essential for effective communication and patient care. Some key terms include:
Premium: The amount paid for an insurance policy. Deductible: The amount a patient must pay out-of-pocket before insurance coverage begins. Co-pay: A fixed amount paid by the patient for a covered healthcare service. Coinsurance: The percentage of costs a patient shares with the insurance company after the deductible is met. Out-of-pocket Maximum: The maximum amount a patient will pay for covered services in a policy period.
