_____ refers to a specified dollar amount of claims paid by the employee each year before insurance benefits begin.Question 10Answera.Coinsuranceb.Benefit cutbackc.Wage concessiond.Deductiblee.Vesting

In order to receive insurance benefits, customers make monthly payments called _____.A.liabilitiesB.deductiblesC.compensationD.premiums

1. A financial agreement for the payment of health-related costs that is made between an individual or a group of individuals and an insurance company is known as _____.A. Fixed IndemnityB. CoinsuranceC. Health insuranceD. Copay2.Billy received a claim against his health insurance in the mail in the amount of $4,910. This is the first claim against his health insurance for the current calendar year. His deductible is $3,000, his coinsurance is 20%, and his premium is $200. What will Billy end up paying on this claim?A. $3,382B. $4,528C. $3,582D. $3,0003.Raymond pays for the first $2,600 of covered services himself (out-of-pocket) under his health insurance plan. This $2,600 is a known as a _____.A. CopayB. DeductibleC. PremiumD. Coinsurance4.Becky is having foot surgery and lives in a townhouse with four flights of steps. She would like to stay in a long-term care facility for the first couple of weeks following her surgery so as not to be a bother to her family. However, when she inquires about her plans to her health insurance company she is told that the long-term care facility will not be covered for her in this type of situation. This is known as a policy _____.A. premiumB. appealC. exclusionD. denial5.Susie selects a health insurance plan through her employer where she makes a $200 payment in full each month for her health care benefits to remain completely active. This payment is known as:A. DeductibleB. CoinsuranceC. A copayD. A premium

The amount a policyholder pays towards the repair or replacement of his/her vehicle in the event of damage is called:*1 pointA. The deductibleB. Comprehensive coverageC. The premiumD. Property damage liability

Before an insurance company pays for a policyholder's expenses, the policyholder must first contribute a certain amount of money toward those expenses. This is called a _____.A.compensationB.liabilityC.deductibleD.premium

Applies to the amount of protection you have through an insurance company in the event of a lossCoveragePremium