Somebody Call a Medicare
This part of Medicare is free so long as you've worked 40 quarters (or 10 years)
What is Part A?
This term refers to how much you pay each month for your health insurance
What is premium?
Federal Marketplace plans include these types of networks
What are HMOs, PPOs, EPOs, and POSs? *Bonus point if you can tell me what each one stands for*
This type of network is shortened to EPO
This is the what the last, and most expensive drug tier covers.
What are specialty drugs?
This part of Medicare is often paid from social security, always has a deductible, and can be more expensive if you have high income.
What is Part B?
This term refers to a specific amount you will pay for a service, such as a primary care physician visit.
What is Copay?
This allows you to enroll in a Federal Marketplace plan outside of Open Enrollment
What is a Qualified Life Event (QLE)?
This type of network allows you to go out-of-network, but only if your primary care physician refers you.
What is Point Of Service (POS)?
This document provides a list of coverages, copays, deductibles, etc. of a given plan.
What is the Summary of Benefits?
This Part of Medicare involves drug tiers
What is Part D?
In a 100% coinsurance, you pay this amount
What is 0%?
This is how many total days you can have to enroll in a Federal Marketplace plan with one qualified life event
This tax-deferred account requires you to have a high deductible health plan, but you won't lose your money when the year ends.
What is a Health Savings Account (HSA)?
This is the name for Medicaid for those under 18 years of age.
What is Children's Health Insurance Program (CHIP)?
In this add-on to Original Medicare, coverage is handled by insurance carriers, such as United Healthcare, Aetna, or Humana. It's usually free, but may include a deductible and a higher maximum out of pocket.
What is Medicare Part C (Advantage also acceptable)?
This term refers to the most you may have to pay for covered services in a plan year
What is maximum out of pocket?
The year-round Qualified Life Event to get on the Marketplace involves this
What is having an income level within 150% of the Federal Poverty Level?
This type of employer-sponsored account is a use-it-or-lose-it type, but it's usable for many items at CVS/Walgreens.
What is a Flexible Spending Account (FSA)?
This is the first thing you would most likely pay if you had a hospital stay.
What is your deductible?
This add-on to Original Medicare boasts freedom to choose your doctors at a very low annual risk, but a higher monthly premium
What is Medigap, or Medicare Supplement insurance?
A catastrophic health plan allows for this many primary care visits each year
What is 3?
This is the general dates for Marketplace Open Enrollment (for plans to start Jan 1)
What is November 1 - December 15?
This type of tax-deferred account is only available to Medicare beneficiaries
What is a Medical Savings Account (MSA)?
This document includes a list of all drugs covered by your insurance plan, along with their specific tiers.
What is the drug formulary?