Because the cost of health care services may oftentimes be substantial, health insurance policies may contain a type of stop-loss provision that helps in preventing medical bills from financially devastating policy holders. This feature is known as the __________ provision.

Question

Quizplus · Accepted Answer

Because the cost of health care services may oftentimes be substantial, health insurance policies may contain a type of stop-loss provision that helps in preventing medical bills from financially devastating policy holders. This feature is known as the maximum out-of-pocket provision. Once an insured has spent an amount of money that is either equal to or greater than the maximum out-of-pocket amount, any future insurance claims will be paid in full by the insurance company. This is typically done without any further financial contributions from the policy holder.

Because the Cost of Health Care Services May Oftentimes Be