Making Money
refers to a mode of compensation where employees are paid for the number of hours they work.
hourly pay
at least 18
The person who owns an insurance policy is known as what?
policyholder
This type of health insurance, members must choose a doctor from a network doctors, who then becomes their primary care physician. If they need to see a specialist they must get a referral from their PCP. Usually less expensive, are limiting and can't go outside their network or insurance won't cover the expenses unless an emergency
HMO (health maintenance organization
insurance:
this is your expense that is not reimbursed by insurance, they include copays and deductibles as well as all costs for services that aren't covered.
Out-of-Pocket-Expense
The total amount an employee earns before taxes are taken out of their paycheck
gross pay
What are considered Primary forms of ID (name 1)
State ID card
Driver's license
Passport
what is the amount of protection and benefits provided by the insurance policy? it also determines the amount of money that will be paid out when a claim is made.
coverage
PPO (preferred provider organization)
balancing your checkbook:
the balance after each deposit or withdrawal-after each transaction
running balance
The total amount an employee receives after taxed and deductions have been taken out of their paycheck
net pay
Any time you place money in an account it is called what?
deposit
a formal request from the policy holder to their insurance company asking for payment for something the insurance covers is?
Claim
most health plans cover this type of service, such as screening tests and shots, at no cost.
Preventative Care
banking:
A type of check that is issued by a bank or other financial institution on behalf of a customer. It is a guaranteed form of payment because the bank draws the funds immediately from the customer's account.
cashier's check
an employee that is paid a set amount of money yearly is called
salaried employee
The one receiving the payment is called what?
HINT: on a check
payee
term insurance
an approval from your insurance before you visit a health care professtional or fill a prescription, have tests done.
Prior Authorization
writing checks:
the first set of numbers on a check is called what. It is a unique numerical code that identifies a specific bank or financial institution
routing number
compensation paid to an employee based not eh amount of sales they have generated for the company. Is usually calculated as a percentage of the money made through their sales
Commission
A small form provided by a bank that serves as a record of a deposit is called what?
Deposit slip
What type of Life Insurance offers lifelong coverage and includes a savings component, similar to long-term investment. premiums are higher, this type of policy builds cash value over time. you can also borrow money against that cash value.
Who Life Insurance
A set fee you pay for a doctor visit of prescription that does not count towards your deductible
copay
making money:
AA formal document created by a company to state its goals and its strategies for achieving them.
business plan