If a person must pay for all health care expenses in excess of $1,000,000, this is called their

Question

Quizplus · Accepted Answer

The term "lifetime maximum" refers to the maximum amount of money that an insurance provider is willing to pay over the course of a policyholder's lifetime. If an individual's health care expenses exceed this amount, they are responsible for paying for any additional costs out of pocket. Therefore, option C is the correct answer. Co-payments and deductibles are different types of cost-sharing mechanisms, while a maximum out-of-pocket is the maximum amount of money an individual is required to pay in deductibles, co-payments, and coinsurance during a given period.

If a Person Must Pay for All Health Care Expenses