What does the schedule of benefits outline?

The schedule of benefits serves as a crucial document in a medical insurance policy, detailing the specific medical services and treatments that are covered under the insured's plan. This summary allows policyholders to understand the range of healthcare services they can avail themselves of with their insurance, including hospital stays, outpatient services, diagnostic tests, and preventative care. By outlining these benefits clearly, patients can make informed decisions about their healthcare and understand what they can expect regarding coverage for various medical needs.

In contrast, claim denials relate to situations where a submitted claim for coverage has been rejected, and are not outlined in the schedule of benefits. Similarly, insurance policy renewal terms discuss how and when the coverage will be extended but do not fall under the regular benefits covered by the insurance. Patient eligibility criteria define who qualifies for the insurance but do not detail the specific services or treatments that the policy covers. Thus, option B accurately reflects the primary purpose of the schedule of benefits within a health insurance policy.