After You Have Reached a Certain Limit That You Must

question 73

Multiple Choice

After you have reached a certain limit that you must pay for the deductible and coinsurance, the insurance company covers 100% of any additional cost. This is called

• A) Reimbursement.
• B) Out-of-pocket limit.
• C) Deductible.
• D) Internal limit.
• E) Indemnity.

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Definitions:

Consumer Surplus

The difference between what consumers are willing to pay for a good or service versus what they actually pay.

Federal Trade Commission

The Federal Trade Commission is a United States federal agency established to protect consumers and promote competition by preventing anticompetitive, deceptive, and unfair business practices.

Sherman Antitrust Act

A landmark federal statute passed in 1890 in the United States, which prohibits monopolistic business practices and aims to promote competition.

Sherman Act

A foundational antitrust law in the United States that prohibits monopolistic practices and promotes competition, enacted in 1890.