Deductible: is the required dollar amount that must be fully paid by the insured patient, prior to the insurance company becoming responsible for making any medical bill payments. Patient is responsible for all allowable charges until deductible is met. Once the deductible if met, then the insurance company will start paying a percentage of the medical bill per insurance policy terms.
Co-Payment: is the dollar amount the insured patient is responsible for paying each visit. After the deductible is met, the patient is only responsible for the co-pay. The copay amount for each visit is fixed by the insurance provider’s policy terms and condition requirement. All-Pro Physical Therapy collects co-payment at the time of service for all eligible plan participants unless other arrangements have been made in advance.
Co-Insurance is a percentage of allowable charges the insured patient is responsible for paying each visit. After the deductible is met, the insurance will cost-share with the patient and will cover the portion of the allowable charges remaining after the patient’s co-insurance.
All-Pro Physical Therapy will submit charges to your insurance company for services rendered. As a result you will receive an “Explanation of Benefits” (EOB) statement from your insurance company. An “Explanation of Benefits” is not a bill. It is a statement from your insurance carrier informing you of the charges submitted on your behalf and how the charges were processed.