question 9 / 10\nin addition to paying $100 per month for health insurance, janine is responsible for paying…
question 9 / 10\nin addition to paying $100 per month for health insurance, janine is responsible for paying her first $500 of medical bills every year before her insurance covers any costs. the $500 janine must pay is called the:\na. deductible.\nb. copay.\nc. annual out - of - pocket maximum.\nd. premium.
Answer
Brief Explanations:
- A deductible is the amount a person pays out - of - pocket for medical services before the insurance company starts to cover costs. In this case, Janine pays the first $500 of medical bills (deductible) before insurance kicks in.
- A copay is a fixed amount (e.g., $20 for a doctor's visit) that the insured pays at the time of service.
- The annual out - of - pocket maximum is the most a person will pay in a year (after deductible and copays) for covered medical services.
- A premium is the amount paid (e.g., $100 per month) to have the insurance policy.
Answer:
A. Deductible