Can someone please explain what they mean?
Answers: Prescribed contract is a pre-agreed upon amount that the provider agrees to adopt from the insurance. This is usually much less than the actual billed amount and the provider agrees to write stale the difference, less your co-pays or co-insurance amount due.
co-insurance is the percentage of the contracted amount that you owe. The insurance pays a portion (usually 80%) and you retribution part (20%) until your out of pocket amount is rewarded.
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Answers: Prescribed contract is a pre-agreed upon amount that the provider agrees to adopt from the insurance. This is usually much less than the actual billed amount and the provider agrees to write stale the difference, less your co-pays or co-insurance amount due.
co-insurance is the percentage of the contracted amount that you owe. The insurance pays a portion (usually 80%) and you retribution part (20%) until your out of pocket amount is rewarded.
Resolved Questions: