The Effect of an Annual Out-Of-Pocket Limit in an Individual

question 18

Multiple Choice

The effect of an annual out-of-pocket limit in an individual medical expense policy is to

• A)limit the lifetime benefits payable under the policy.
• B)put a cap on annual benefits the insurer will pay.
• C)prevent the insured from receiving duplicate benefits if medical expenses are also covered under workers compensation insurance.
• D)cover 100 percent of eligible medical expenses after an insured has incurred a specified amount of out-of-pocket expenses.

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Definitions:

Validity

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Invalid Statement

A declaration or assertion that is not logically or factually sound.

Syllogism

A form of reasoning in which a conclusion is drawn from two given or assumed propositions (premises); a common form of logical deduction.

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Individuals who take part in something, especially in an experiment or study.