Chapter 14 medical insurance Flashcards
a fixed percentage of covered charges paid by the insured person after the deductible has been met
coinsurance
the amount charged for a medical insurance policy
premium
a list of charges for services performed
fee schedule
federal law requiring disclosure of finance charges and late fees for payment plans
truth in lending act
an authorization to an insurance company to make payment directly to the physician
assignment of benefits
the max charge an insurance company or government program will cover for specific services
allowed charge
what does the coordination of benefits prevent?
duplication of payments
the fixed dollar amount that must be paid before insurer will pay additional expenses
deductible
the amount of money due from the insured to pay for a portion of the bill (paid before/after appt)
copayment
medicare is available to individuals who are
- 65 and older
- blind, widowed, or have long term disabilities
what is covered by medicare part A?
inpatient care
what is covered by medicare part B?
outpatient care
what is medicare part C?
allows private health insurance to provide medicare benefits
what is medicare part D?
prescription drug coverage
who can be covered by medicaid?
low income individuals
