The following scenarios will you be entitled to pay the least amount of money out-of-pocket for a medical expense is: you have health insurance with a $500 deductible
Further explanation
Health insurance is the insurance covered the whole or part of the person risk of incurring medical expenses that spreading the risk over a large number of persons. The deductible is the amount you'll spend on medical services before your insurance plan begins to pay for your care. After you meet your deductible, your insurance company will start to cover your services, then at which point we still responsible for copayments come with the plan.
The out-of-pocket expense is a direct money payment than can be later reimbursed from third-party source. It refers to money you spend on medical costs such as co-pays, coinsurance, deductibles associated with the essential health benefits.
The following scenarios will you be entitled to pay the least amount of money out-of-pocket for a medical expense is: you have health insurance with a $500 deductible
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Answer details
Grade: 5
Subject: social studies
Chapter: scenarios
Keywords: scenarios, money, pay, out-of-pocket, medical expense
