Which is not a characteristic of a major medical expense policy?

Unlock all questions

This demo includes only 20 questions. Upgrade to access hundreds of questions, flashcards, exam simulations, and disable ads.

Full question bankExam simulationsFlashcards
From $24.99Unlock all

Study for the Louisiana Series 103 – Life, Health, and Accident or Sickness Insurance Exam. Familiarize yourself with key concepts through engaging questions and explanations. Prepare effectively for your exam!

Multiple Choice

Which is not a characteristic of a major medical expense policy?

Explanation:
Major medical expense policies are built around cost-sharing features that start when you incur covered expenses: you pay a deductible, then coinsurance kicks in for the remaining costs, and there’s an out-of-pocket maximum that caps your yearly spending. An elimination period, by contrast, is a waiting period used in disability and some long-term care policies, where benefits don’t begin until after a specified time of disability or injury. It isn’t applied to major medical coverage, so it isn’t a characteristic of that type of policy.

Major medical expense policies are built around cost-sharing features that start when you incur covered expenses: you pay a deductible, then coinsurance kicks in for the remaining costs, and there’s an out-of-pocket maximum that caps your yearly spending. An elimination period, by contrast, is a waiting period used in disability and some long-term care policies, where benefits don’t begin until after a specified time of disability or injury. It isn’t applied to major medical coverage, so it isn’t a characteristic of that type of policy.

More Multiple Choice Questions
Subscribe

Get the latest from Passetra

You can unsubscribe at any time. Read our privacy policy