Terminology
The name for the group of providers that work within a network with your insurance company.
In-network providers
The Act passed to make health care more accessible and affordable, especially for low-income individuals or individuals with disabilities.
Affordable Care Act
When prices go up, or the buying power of the dollar goes down, this is a period called...
Inflation
What does CPI stand for?
Consumer Price Index
The set amount that the insured person must pay out of pocket for services at a doctor's office.
What is a Co-Pay?
A managed care organization developed to control the expenditure of health care dollars and to manage patient care. IE Patients need a primary care provider who can give referrals to specialists.
What is a Health Maintenance Organization (HMO)
The president who passed the Affordable Care Act
Who is Barack Obama?
Cost-Push Inflation: Production costs increase = higher prices for consumers (Ex: Costs of helium goes up, cost of a balloon for a consumer goes up)
Demand-Pull Inflation: High demand = higher prices (Ex: High demand for a video game may lead to a higher price tag on a new release)
Measure that examines the weighted average of prices of a basket of consumer goods and services
CPI (Consumer Price Index)
Conditions like acquired immunodeficiency syndrome, cancer, losses due to injury on the job, and pregnancy are reasons why a person should not be allowed to deduct expenses
What is a Preexisting Condition
The percentage that the insurance company agrees to pay after you reach your deductible.
What is Coinsurance?
The colloquial term for the Affordable Care Act.
What is Obamacare?
Name at least 1 CAUSE of inflation:
Wars/Civil Conflicts - affects production, shipping, obtaining goods, etc
Global Pandemic
Housing, Food/Beverages/Groceries, Health Care, Communication, Clothing, Education, Recreation, and other miscellaneous goods and services
Enrollees receive the highest level of benefits when they obtain services from a physician, hospital, or other health provider designated by their program as a preferred provider. More flexible than an HMO.
What is a Preferred Provider Organization (PPO)
Under the ACA, young adults can stay on their parents plan until the age of...
26
True or False: A certain level of inflation is necessary for a healthy economy.
True.
What does the Market Basket attempt to represent?
A doctor that specializes in a certain field of medicine; patients often need a referral to see these doctors.
What is a Specialist?
A lot of health insurance companies do not offer coverage for....
What are specialty doctors/treatments
ex: chiropractic, acupuncture, mental health services, physical therapy, pregnancy care, etc.
Medicaid and Medicare are managed by....
The Federal Government
Give a NON-example of inflation
The cost of ONE good increasing (like gas)
Costs fluctuating (going up and down at inconsistent rates)
True or False. The CPI is the ONLY indicator of inflation.
False