________ Is a Mode of Payment in Which a Patient

question 16

Multiple Choice

________ is a mode of payment in which a patient pays premiums into a fund,and the doctor or hospital is paid from this fund for each treatment provided to the patient.

• A)Medical underwriting
• B)Out-of-pocket payment
• C)Preventive medicine
• D)Third-party medicine

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Definitions:

Deductible Contribution

An eligible contribution to a qualified plan or account that reduces taxable income.

Coverdell Education Savings Account

A savings account that allows money to grow tax-free when the funds are used for education expenses.

AGI

Adjusted Gross Income, which is gross income minus adjustments, serving as the basis for calculating taxable income.

Annuity Contract

A financial product sold by an insurance company that provides guaranteed income over a period of time for a flat or periodic payment.