Question

1.If a person must pay the first $300 of covered health care expenses in a year, this is called their

	a.	deductible.
	b.	maximum out-of-pocket.
	c.	lifetime maximum.
	d.	co-payment.

2.The majority of people with private health insurance get it

	a.	along with one other person.
	b.	individually.
	c.	in groups.
	d.	at the grocery store.

3.The lifetime maximum is the

	a.	most of covered expenses that an individual will have to pay during a year.
	b.	percentage of a covered expense that an insurance company will have to pay (after the deductible is met.)
	c.	most of covered expenses that an insurance company will pay on an individual over their lifetime.
	d.	percentage of a covered expense that an individual will have to pay (after the deductible is met.)

Answer 1

1) (A) Deductible

Deductible is the amount you pay for covered health care services before your insurance plan starts to pay. Here the person must pay the first $300 of covered health care expenses in a year, so it is deductible.