All > Business > Finance > Personal Finance
When you're covered by fee-for-service health insurance, you pay your medical bills and file a claim for reimbursement from your insurance company.
Most fee-for-service plans pay a percentage - often 70% to 80% - of the amount they allow for each office visit or medical treatment. You pay the balance of the approved charge plus any amount that exceeds the approved charge.
Your share of the approved charge is called coinsurance.
If you are enrolled in Original Medicare, which is a fee-for-service plan, your healthcare provider will file the insurance claim on your behalf.Yahoo Finance - Cite This Source - This Definition
- Browse Related Terms: activities of daily living, Approved charge, Coinsurance, Copayment, Fee-for-Service, Health Insurance, Long-term care insurance, Medicare, Preferred Provider Organization (PPO)
Also listed in: