What is Plan A's deductible in the example?

Unlock all features

Unlock your full potential with Examzify Plus. Access the complete question bank, personalized progress tracking, and an ad-free experience.

Full question bankExam simulationsFlashcards
From $24.99Unlock all

Study for the Federally Facilitated Marketplace (FFM) Exam with flashcards and multiple choice questions. Each question includes hints and explanations to help you prepare. Ace your exam today!

Multiple Choice

What is Plan A's deductible in the example?

Explanation:
A deductible is the amount you pay out of pocket for covered services before the plan starts paying at its cost-sharing level. In the example, Plan A shows a deductible of 130 dollars. That means you must spend 130 in eligible expenses yourself before Plan A begins to share costs (coinsurance and any copays apply after you’ve met the deductible). The other dollar amounts (50, 500, 250) would represent different deductible levels, but the plan details for Plan A specify 130, so that is the correct figure. Remember, the deductible is separate from copays, coinsurance, and the out-of-pocket maximum.

A deductible is the amount you pay out of pocket for covered services before the plan starts paying at its cost-sharing level. In the example, Plan A shows a deductible of 130 dollars. That means you must spend 130 in eligible expenses yourself before Plan A begins to share costs (coinsurance and any copays apply after you’ve met the deductible). The other dollar amounts (50, 500, 250) would represent different deductible levels, but the plan details for Plan A specify 130, so that is the correct figure. Remember, the deductible is separate from copays, coinsurance, and the out-of-pocket maximum.

More Multiple Choice Questions
Subscribe

Get the latest from Examzify

You can unsubscribe at any time. Read our privacy policy