The policy by Sally's health insurance policy that requires that she pay $500 of the first medical cost each year is the Annual Deductible.
This is an amount that an insurance policy reuires that its holders pay because the policy starts covering their medical costs.
This amount is paid once a year and is paid on the first medical cost that a person incurs in the year.
In conclusion, this is an annual deductible.
Find out more on deductibles at https://brainly.com/question/5306277.
