Insurance
What is insurance?
Insurance protects you from financial loss in risky or uncertain situations.
What is Medicare?
Medicare is a federal health insurance program for people over the age of 65.
What are insurance coverage/benefits?
The things (services, procedures, medicines) insurance can provide protection for
Which type of insurance plan is cheaper, PPO or HMO?
An HMO is cheaper
What does "financial loss" mean?
Financial loss means to loose money.
What is Medicaid?
Medicaid is a state government health insurance provided for people who are low-income.
What is a co-pay?
The amount of money you pay for a medical expense, while your insurance pays the rest
What is a PPO?
You pay more, but can go to any doctor you want - prices are cheaper for in-network providers
What does "risky" mean?
Risky means to be uncertain, unpredictable, and could result in something bad happening.
What is employer-sponsored insurance?
Employer-based insurance is health insurance that is provided to you through your job.
What is a deductible?
The amount of money you pay for health care each year before your insurance starts paying for protection and care
What does "subsidized" mean?
Subsidized means that the government pays money towards a service so that it is cheaper and you pay less.
Name three types of insurance.
Life insurance, house insurance, car insurance, health insurance.
What is the Medicaid program for children?
CHIP
What is a premium?
The amount of money, usually monthly, you pay for insurance
It is taken out of your salary by your employer.
What is the difference between public and private insurance?
Public insurance is provided by the government. Private insurance is something you must buy that is provided by a company.
Label as public or private insurance: Medicaid, Medicare, and employer-sponsored insurance.
Medicaid = Public
Medicare = Public
Employer-Based = Private
What is a provider network?
The doctors and health care services who work with your health insurance
What is an HMO?
You must go to doctors in the network of your insurance plan, must go to primary care “gate keeper”