Life Insurance
The money you can borrow from the policy
Cash Value
The nickname for the Affordable Care Act
Obamacare
The amount of time someone has to work to receive part A for free.
10 year/40 quarters
The coverage for damages you do to someone else's vehicle
Liability
The concept of being your own bank
Infinite Banking
10 Required Core benefits by state law
Essential Health Benefits
The requirement a person has to have to be under the age of 65 and receive Medicare
Disabled for 24 months
The Discount offered to policy owners who have children that get good grades
Insurance that doesn't expire or terminates (unless you fail to pay premium)
The type of visit that is $0 in EVERY plan
Preventative Care
Permission you have to get to receive medically necessary medical services
Pre-Authorization/Prior Authorization
The type of coverage that covers you in the event your car is stolen or damage due to fire, hail, wind storm, and hit by an animal.
Comprehensive
A return of premium, that allows tax free growth
Dividend
The type of Health insurance that allows pre- tax contributions to pay for medical services and products
HSA/Health Savings Account
Federal assistance given to help with cost of premium, medications costs, waiving part d penalties, and avoiding coverage gap.
Extra Help/LIS- Low income subsidy
Type of coverages that pays for the damages of your vehicle when you have an accident/physical contact with another vehicle or automotive.
Collision
The document that allows you to view how your insurance policy will perform over the life of the policy.
Illustration
The percentage amount that the employer has to offer you health insurance coverage under for the cost to be deemed affordable.
9.5%
Insurance that is required for medications, that will result in a penalty if not acquired
Part D
NC State Minimums limit
30/60/25