0
Is Claim amount payable in a health insurance is equal to medical expenses less deductible?
Wiki User
∙ 15y ago
I don't quite understand your question. There might also be co payments, ie 80/20 and "negotiated" rates - discounts from the Medical Provider to the insurance company.
Wiki User
∙ 15y ago
Add your answer:
Earn +20 pts
What term is defined as the amount you are responsible for paying to repair your car after the accident?
The term is "deductible". It is payable as to collision and comprehensive claims. The deductible is chosen by the insured when the insurance is initially purchased.
What is Amount payable by insurance company for insurance?
This is the amount paid by the insurance company to the doctor. It is the negotiated rate less the amount that you paid in the form of a copay, a coinsurance, or a deductible.
What is meant by expenses payable?
Expense payable is a current liability.
What is mean by payable and outstanding payable?
Those expenses have to pay pay
Is accounts payable same as expenses?
No
Is it true that in the state of Michigan the person who paid the funeral expenses is entitled to the insurance benefit regardless of who the beneficiary is?
Unlikely. It doesn't make sense. If you pay $10k in funeral expenses and the life insurance is 10 million - what kind of a deal is that? It would certainly be possible that if the insurance is payable to the estate of the deseased that the person who paid the funeral expenses could get the $$$ from there.
Is tax payable on income an expense?
Taxes are payable on income less expenses
What is a accounts payable jopurnal?
By Accouts payable Dr To Expenses A/c Cr
What is the journal entry for electricity payable?
Debit electricity expensesCredit expenses payable
Is the beneficiary of a life insurance policy responsible for funeral expenses of the deceased?
No. All monies of a deceased is gathered in to their estate, then all debts of the deceased are paid, then legacies are paid out. Policies payable to a person are payable to that person.
What is the definition of deductible?
1) The term used to describe a sum of money payable by the claimant of an insurance policy prior to the insurance company paying anything. 2) Any sum of money being subtracted from a larger sum.
What is Outstanding expenses journal entry?
Debit outstanding expensesCredit expenses payable
