A small, fixed amount required by a health insurer to be paid by the insured for each outpatient visit is known as what?

The term that describes a small, fixed amount required by a health insurer to be paid by the insured for each outpatient visit is known as a co-pay. A co-pay is a straightforward, out-of-pocket expense that an insured person pays at the time of receiving medical services. This fee is established in the insurance policy and is typically a set dollar amount for specific services, such as doctor visits or medications.

This arrangement benefits both the insurer and the insured; it ensures that the insured contributes to their healthcare costs, thus helping manage the insurer's overall expenses. It also simplifies the payment process for routine healthcare, allowing for a predictable cost associated with outpatient visits.

In contrast, terms like deductible refer to the amount the insured must pay before insurance coverage begins, co-insurance pertains to the percentage of costs the insured must pay for covered services after the deductible is met, and premium is the regular payment made to maintain the insurance policy itself.