Vocabulary
The type of insurance that provides protection against financial loss from medical bills is called
What is Health Insurance?
Requires the insured individual to pay a fixed percentage of the loss after the deductible has been paid
What is Coinsurance?
If your share of the Insurance 80/20 is $7800 and your Out Of Pocket is $7000, how much are you responsible for?
What is $7000
The total premium cost of $200 per month for a year
What is $2400
This term pays for protection against loss of life, maintaining health, property, and finances of the policy holder.
What is INSURANCE
Provides payment to replace earnings during times when workers cannot work due to illness or injury
What is DISABILITY INSURANCE?
Once you pay your deductible and go in to Coinsurance of 90/10, what is your cost for a $25000 balance on your medical bill?
What is $2500?
A deductible has been met and you have a coinsurance bill of $5000. Your out of pocket is $10000. You owe...
What is $5000
The amount the member has to meet before cost-sharing
What is DEDUCTIBLE?
he amount paid for insurance is the
What is PREMIUM
Your out of pocket costs are $10,000. You have a coinsurance cost of $30000, the Insurance Company will pay this amount..
What is $20,000
A Coinsurance of 60/40 and the balance on the medical bill is $10,000. Your out of pocket is $15,000. You owe....
What is $4000
Coinsurance is calculated by what type of math?
What is PERCENTAGE?
Does the insurance company pay for ALL medical expenses as long as you pay your monthly premium?
What is NO?
Ellen Saver pays $500 each for 6 months and a medical copay of $50 for 6 visits. Her deductible is $4000. She requires a medical surgery for $4000. Her total cost to date is?
What is $7300
You pay 80/20 on a coinsurance bill of $20000. The insurance company will pay...
What is $16,000
A fixed amount you pay for a covered health care service, usually when you get the service at the office.
What is Copay
Covers the cost of injury to others and property damage caused by you.
What is Liability Insurance
Encik Razak buys an insurance policy to cover himself in case of an accident. He pays $350 per month with a Copay of $50, Deductible $5000 , 80/20 with an Out of Pocket $9000
If he has medical bills in January, his expense before Coinsurance is.
What is $5400
You pay 80/20 on a coinsurance bill of $20000. Your out of pocket is $3000. You will pay
What is $3000