Your Medical Insurance Contains a Feature That Limits the Total

question 124

Multiple Choice

Your medical insurance contains a feature that limits the total dollar amount that you are responsible for paying. This is called a

• A) limitation provision.
• B) stop-loss provision.
• C) contingency limitation provision.
• D) maximum payment provision.
• E) none of the above

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Definitions:

Future Costs

Potential expenses that a company expects to incur in the future as a result of its current decisions and actions.

Relevant

Pertaining to decision-making, it refers to information or data that can influence the outcome of the decision.

Incurred Costs

Expenses that have been realized in the course of business operations.

Alternatives

Different options or choices available in a decision-making process.