Insurance Lingo
What does "Deductible" mean?
Amount you pay before insurance kicks in
What does ACA stand for?
Affordable care act
What age do most people qualify for medicare?
65
What does a hospital indemnity plan pay for?
CASH to the insured for each day they are in the hospital
What state did I grow up in?
NY, Rochester to be exact
What is a "Co-Pay"?
A fixed fee for a service
True or False
All ACA plans must cover pre-existing conditions.
True
What are the 2 parts of original medicare?
Part A and Part B
What type of policy helps cover out of pocket costs after an accident?
Accident policy
How long have I lived in the triad region of NC?
Coming up on 20 years. Will accept the precise 18 years in august answer.
What is "Coinsurance"?
You pay a % of the bill after the deductible is met
Waht determines if you qualify for financial help, or a subsidy) on an ACA plan?
House hold size and income
What does Medicare part A generally cover?
Hospital care
What kind of plan provides a lump sum payment upon diagnosis of cancer of stroke?
Critical illness policy (sometimes called a cancer/heart/stroke policy)
** Daily Double**
What is my other business outside of insurance?
Spinfrogs, Pottery
I make custom hand made functional pottery for every day life, sell it at shows, events and custom orders, and teach others through my handbuilding classes now available in my home studio.
What does "Out-Of-Pocket Maximum" mean?
the most you will pay in a year before insurance covers 100% - it is also known as the stop loss amount
*Daily Double*
What is the name of the government website to review ACA plan options?
What does part B usually cover?
True or false
Dental and vision are automatically included in all ACA plans?
False, these are usually considered ancillary products.
Do I have any kids or pets?
Bonus if you can tell me how many and their names!
Yes
1 kid
Son named Logan
Miss having dogs :-(
What is an "EOB"?
It is the explanation of benefits and is usually received following a service. It breaks down what was billed to insurance and what was covered by insurance and what remains for you to pay.
When is Open Enrollment for ACA plans?
November 1 to December 15
What is the penalty for not signing up for Part B when you are eligible and not covered by elsewhere?
10% penalty for every 12 months you are not covered and that penalty stays with the life of the medicare plan.
What's a good reason to bundle ancillary products like dental, vision, accident, or critical illness plans with health insurance coverage?
To reduce your risk exposure or fill in the gaps in major medical coverage.
What is my favorite vacation?
Cruise (anywhere! Dream is to see the world and particularly the original 7 wonders of the natural world)