A Lifetime Maximum Amount Is the Maximum Benefits Payable to a __________

question 37

Multiple Choice

A lifetime maximum amount is the maximum benefits payable to a __________.

• A) health plan participant
• B) nonparticipating provider
• C) participating provider
• D) third-party payer

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Definitions:

Compounded Quarterly

Interest on an investment or loan is calculated four times a year, with each calculation including the interest from previous periods.

Equal Payments

Consistent payment amounts made regularly over a period, typical in loans and annuities.

Simple Interest

Interest calculated on the principal sum only, not compounding on earned interest, typically over a period of time.

Savings Account

A bank account that earns interest over time, designed for the deposit of funds not intended for immediate use.