Question

Which of the following was developed to cover the costs of catastrophic expenses from illness or injury?

A) Medicaid insurance.
B) Medicare insurance.
C) Primary care.
D) Private insurance.
E) Major medical insurance.

Answer 1

Major medical insurance was introduced to address the financial impact of catastrophic health expenses, while Medicare insurance provides health coverage mainly to individuals over 65 years old.

Step-by-step explanation:

Among the options provided, major medical insurance was specifically developed to cover the costs of catastrophic expenses from illness or injury. Major medical insurance is designed to protect individuals against large financial losses due to serious health issues by offering coverage that exceeds the coverage of basic medical expense insurance.

Medicare insurance is a federal program that primarily offers insurance to people over sixty-five years old. It provides health insurance covering hospital stays (Part A) and medical services outside of hospital stays (Part B). While Medicare does help with many health care costs, it often requires additional supplemental insurance to cover catastrophic expenses.