Question

Which of the following terms describes the specified dollar amount beyond which the insured no longer participates in the sharing of expenses?

a)First-dollar coverage
b)Corridor deductible
c)Stop-loss limit
d)Out-of-pocket limit

Answer 1

The out-of-pocket limit is the specified dollar amount beyond which the insured no longer participates in the sharing of expenses. It is the maximum amount of money that an insured person is required to pay for covered services in a given year.

Step-by-step explanation:

The term that describes the specified dollar amount beyond which the insured no longer participates in the sharing of expenses is the out-of-pocket limit. This is the maximum amount of money that an insured person is required to pay for covered services in a given year, after which the insurance company typically covers 100% of the costs. It is important to note that this out-of-pocket limit can vary depending on the insurance plan and the specific terms and conditions of coverage.