Mr. Wallace has a Medicare Advantage plan that requires him to pay no more than $9,500 for medical expenses in a calendar year. What is this rule within the plan called?

(1 point)
Responses

copayment agreement
copayment agreement

coinsurance agreement
coinsurance agreement

out-of-pocket minimum
out-of-pocket minimum

out-of-pocket maximum
out-of-pocket maximum

1 answer

The rule within Mr. Wallace's Medicare Advantage plan that requires him to pay no more than $9,500 for medical expenses in a calendar year is called the out-of-pocket maximum.