What type of insurance describes a monetary amount paid for a covered event under a qualified plan?

The term that best describes a monetary amount paid for a covered event under a qualified plan is claim payment. In the context of insurance, a claim payment is the amount the insurer pays to the insured or to a provider on behalf of the insured after a covered event occurs, provided the claim meets the policy's terms and conditions.

A claim payment typically occurs after the insured submits a claim for benefits due to an incident or event that the policy covers, such as medical expenses or a loss. This process ensures that the insured receives financial support for eligible expenses related to the covered event.

Deductible refers to the amount the insured is required to pay out of pocket before the insurance coverage kicks in, which is not a payment made by the insurer. Capitation is a payment arrangement for healthcare services based on a flat fee per patient over a specific period, rather than payments made for specific claims. Premium is the amount the insured pays periodically to maintain coverage but does not refer to payments made in response to a specific event or claim.