FREE CHAA Financial Processes Questions and Answers

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What is the primary purpose of insurance verification?

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Insurance verification ensures that the patient’s coverage is active and the service is eligible for reimbursement.

What is a deductible?

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A deductible is the set amount the patient is responsible for paying before insurance contributes to costs.

What document informs a patient of their financial obligations before services are rendered?

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This form outlines the patient's payment responsibilities, including deductibles, co-pays, and other charges.

What does the term “co-insurance” refer to?

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Co-insurance is typically expressed as a percentage, such as 20%, that the patient pays after the deductible is met.

What is a key responsibility of a financial counselor in healthcare access?

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Financial counselors help patients navigate costs, payment plans, and financial assistance options.