Risk assumption involves?

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Prepare for the North Carolina Health Insurance Test. Study with flashcards and multiple choice questions; each comes with hints and explanations. Get ready for your assessment!

Multiple Choice

Risk assumption involves?

Explanation:
Risk assumption is when you choose to bear the financial impact of a risk yourself rather than transferring or sharing it with others. In health insurance terms, this means retaining the entire risk and paying any expenses incurred from it. This is different from transferring risk to an insurer (buying insurance), avoiding risk (eliminating exposure), or sharing risk with others (risk pooling). So the statement that best fits risk assumption is keeping the risk and paying the costs yourself, such as paying deductible and out-of-pocket expenses.

Risk assumption is when you choose to bear the financial impact of a risk yourself rather than transferring or sharing it with others. In health insurance terms, this means retaining the entire risk and paying any expenses incurred from it. This is different from transferring risk to an insurer (buying insurance), avoiding risk (eliminating exposure), or sharing risk with others (risk pooling). So the statement that best fits risk assumption is keeping the risk and paying the costs yourself, such as paying deductible and out-of-pocket expenses.

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