ECONOMICS
INSURANCE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Medicare
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co-insurance
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co-payment
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deductible
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Detailed explanation-1: -One of the most common coinsurance breakdowns is the 80/20 split. Under the terms of an 80/20 coinsurance plan, the insured is billed for 20% of medical costs, while the insurer pays the remaining 80%. 2.
Detailed explanation-2: -The percentage of costs of a covered health care service you pay (20%, for example) after you’ve paid your deductible.
Detailed explanation-3: -That means your insurance company pays for 80 percent of your costs after you’ve met your deductible.
Detailed explanation-4: -Minimum and Maximum Sum Insured: The standard health insurance policy, offers to cover both individuals as well as family floater plans. You can purchase a cover of minimum Rs. 1 lakh while Rs. 5 lakh is the maximum amount.