Key Terms
What Is Co-Pay?
-The fixed dollar amount you pay out of pocket for covered medical services
This U.S. law created a marketplace for affordable health insurance and expanded Medicaid in many states.
What is the Affordable Care Act (ACA)?
This type of insurance typically costs $15–$50/month and covers cleanings, fillings, and root canals.
dental insurance
This was the monthly cost of the first health insurance plan created in 1929.
50 cents
This type of care includes surgeries, overnight stays, and room/board, and can start as low as $10/month.
Hospitlization
What is the "In Network"?
-is one that has a contract with your insurance plan to provide services at pre-negotiated rates
True or False: All Americans are legally required to have health insurance.
False
This plan helps pay for eye exams, glasses, and contact lenses.
vision insurance
This event allows you to enroll in health insurance outside of the yearly open enrollment period.
qualifying life event (e.g., having a baby)
This type of visit includes primary care and specialists, and typically 80% is covered while you pay the other 20%.
doctor visits (outpatient care)
What is the "Out Network"?
- Not contracted with your plan and may charge you in-full for their services.
These three East Coast states require residents to have health insurance or face penalties.
Massachusetts, New Jersey, and Rhode Island
True or False: Vision insurance typically covers laser eye surgery (LASIK).
False
True or False: Some health insurance plans help pay for your gym membership
True
This health service includes ER visits and ambulance rides, with insured costs ranging from $412 to $660.
emergency services
What is preventative care?
-The routine healthcare services are aimed at preventing diseases and promoting overall health. Includes things like annual checkups, vaccinations, and screening for disease. All covered by preventative care on your plan.
If someone earns at or below the federal poverty level, they may qualify for this no-cost health insurance option under the ACA.
Medicaid (or ACA-subsidized coverage)
This type of insurance pays a lump sum or reimburses costs if you're injured in an accident
accident insurance
This group often receives free or discounted health insurance through their school
College Students
This refers to coverage for medications, where co-pays range from $11 for generics to $128 for specialty drugs.
Prescription Drugs
What is Coinsurance?
-The percentage of covered healthcare costs you pay after you have met your deductible, with your insurance company paying the rest.
Name two of the six U.S. locations where having health insurance is required by state or district law.
California, Massachusetts, New Jersey, Rhode Island, Vermont, or Washington, D.C.
Arrange from lowest to highest: typical monthly cost of vision, accident, and dental insurance.
vision ($10–$25), accident ($10–$40), dental ($15–$50)
By law, coverage for this type of health issue must be equal to coverage for physical health
mental health
According to statistics, this percentage of Americans will be hospitalized at some point in their lives.
90-95%