What are reasonable and customary charges?
The Bankrate.com financial term of the day is: "reasonable and customary charges."
"You want to be paid how much for that medical procedure? Are you crazy?" Those are the sorts of questions you might expect a health plan to hurl at a medical provider in the interest of holding down insurance costs. Except it usually doesn't happen that way. Insurers typically make it clear upfront that they will not pay anything more than reasonable and customary charges. Those are the amounts usually charged for medical treatments or services in your area.
Health insurance companies that are concerned about costs will limit their payments to what are considered the reasonable and customary charges for medical care where you live.
To get an insurance quote, visit the Insurance section at Bankrate.com.