Insurance Terms Quiz

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Questions and Answers

Which term refers to the amount of money you need to pay out of pocket before your insurance starts covering expenses?

  • Deductible (correct)
  • Co-insurance
  • Premium
  • Co-payment

Which term refers to the percentage of medical costs that you are responsible for paying after meeting your deductible?

  • Deductible
  • Co-insurance (correct)
  • Co-payment
  • Premium

Which term refers to a fixed amount that you need to pay for a specific medical service or prescription?

  • Premium
  • Co-payment (correct)
  • Co-insurance
  • Deductible

Which term refers to the maximum amount of money you will have to pay out of pocket for covered medical expenses in a year?

<p>Out of Pocket Maximum (A)</p> Signup and view all the answers

Which term refers to the maximum amount of money your insurance will pay for covered medical expenses in a year?

<p>Annual Benefit Maximum (B)</p> Signup and view all the answers

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