Vocabulary
Name one of the three types of Health Insurance
Traditional plan, PPO, HMO
Donna is self employed, what is her employee contribution in percent?
100%
Samantha's health care costs include co-payments for 12 physician visits. If her co-payments are $15 each, find the total amount she paid.
$180
Coverage $85,000
85 units
If the annual premium per unit is $11.75 and you buy 200 units, what is the annual premium?
$2350
This is the amount of money a person has to pay when they visit a physician or specialist
Co-payment
John is employed by Chemical Industries. His employer pays 75% of his premium. What is his employee contribution in percent?
25%
Following hospital surgery, Eddie made co-payments for 8 physical therapy visits at $95 each (he is responsible for 20%). What was his total cost?
$152
Coverage $175,000
175 units
If the annual premium per unit is $45.75 and the coverage is $500,000, what is the total annual premium?
$22,875
This is a fixed amount of money you must pay for healthcare services before your insurance plan begins to cover costs
Deductible
Paul is a self employed accountant and is enrolled in a non-group health insurance plan. The plan costs $7,710 per year, what will he pay each month in premiums?
$642.50
Chris paid co-payments for 9 physician visits and 6 specialist visits. If his co-payments for physician visits is $10 and his co-payments for specialist visits is $30, find the amount he paid in total for co-payments.
$270
Coverage $150,000
150 Units
If the annual premium per unit is $32.50 and the coverage is $150,000, what does the insured pay per month?
$406.25
Life insurance that is paid for a specific amount of time (for example 5 years)
Term life insurance
Jessica is employed at Stone Manufacturing. Her total annual health insurance premium is $5976. her employer pays 70% of the premium. How much does SHE pay per month?
$149.40
The Smith family uses a non-network provider. They had 17 physician visits, 9 specialist visits, and 2 emergency room visits plus ambulance fees in both cases. Find their total costs if their co-payments for physician visits is $20, co-payment for specialist visits is $40, emergency room visit is $100 and the ambulance fee is $100
$1,100
Coverage $285,000
285 units
If the annual premium per unit is $32.50 and the coverage is $150,000, what does the insured pay per month?
$406.25
The person who will receive the benefits of someone's life insurance policy
Beneficiary
Brandon is employed by Bargain Department Store. His annual premium is $6180. His employer pays 75% of premium. How much is deducted from his paycheck each week.
$29.71
The Ramos family had 15 physical therapy visits at $80 each and 5 co-payments at their local pharmacy for 2 generic and 3 brand name prescriptions. They're co-payment is 20% for physical therapy, $10 for generic and $20 for brand name. What was their total cost?
$320
Coverage $1,500,000
1500 units
If the annual premium per unit is $46.50 and the coverage is $200,000 what is the insured's cost if they pay their premium bi-weekly?
$357.69