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Insurance Related ONLY:

Benefit Plan
Coverage by an insurance, summary plan description or other document or agreement which specifies the health care services to be provided or
reimbursed for the benefit of a plan.

Coinsurance
"When a payment is the financial responsibility of the Participant (Client) under a Benefit Plan for the services in which is calculated as a % of the contracted reimbursement rate or, if the reimbursement is on a basis other than a fee-for-service amount on the basis of the $."

Copayment
"This is the financial responsibility of the Participant under a Benefit Plan for Covered Services that is calculated as the actual dollar amount."

Covered Services
"Health care services for which a Participant (Client) is entitled to receive coverage under the terms and conditions of their Benefit Plan."

Deductible
"A payment for Covered Services calculated as a fixed $dollar amount that is the financial responsibility of the client under a Benefit Plan."

Payor
"Who is responsible for the payment is the Participant, but this refers to times when  there is another payor involved or entity responsible for the payment to provide  reimbursement for Covered Services under the Participant’s Benefit Plan." 

*Audits
Disclaimer to participants (Clients) using insurance ONLY:

Upon reasonable notice your insurance has the right to review and make copies of all records maintained by MSMW with respect to all payments received by insurance etc. The audit serves the insurance to verify if services have been properly paid under the agreement.