Health Vocab Flashcards

1
Q

Overinsurance

A

An excessive amount of insurance that would result in overpayment to the insured in the event of a loss

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2
Q

Noncancellable

A

A contract of health insurance that the insured has a right to continue in force by payment, as set forth in the contract, for a substantial period of time and that the insurer has no right to change or cancel

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3
Q

Elimination Period

A

A waiting period imposed on the insured from the onset of disability until benefit payments begin

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4
Q

Disability Income Insurance

A

Coverage that provides periodic payments to replace an insured’s income when the insured is disabled from an illness or injury

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5
Q

Coinsurance

A

A cost-sharing arrangement between an insurer and insured in which each pays a percentage of covered expenses.

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6
Q

Deductible

A

A specific amount of covered expenses that the insured must pay before any costs will be paid by the health plan

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7
Q

Major Medical Insurance

A

Health insurance that provides coverage for catastrophic losses and features deductibles, coinsurance and high limits of coverage

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8
Q

Long-Term Care (LTC)

A

Health and social services provided for individuals with chronic diseases or disabilities who require assistance at home or in a nursing home facility

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9
Q

Accidental Death Insurance

A

A form of health insurance that provides payment if death of the insured results from accident; often combined with dismemberment insurance in a form called Accidental Death and Dismemberment (AD&D)

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10
Q

Hospital Indemnity

A

A policy that provides a fixes sum for each day of hospital confinement, regardless of medical expenses incurred

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11
Q

Gatekeeper Model

A

An HMO model that uses the insured’s primary care physician as the initial contact for the insured for medical care and for referrals

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12
Q

Blanket Insurance Contract

A

A health insurance policy that covers all members of a particular group while they are participating in a specified activity, such as sports teams, campers, or students. All group members are automatically covered without certificates of insurance.

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13
Q

Accident and Sickness Insurance

A

Insurance against bodily injury, disability or death by accident or accidental means, or expense thereof, or against disability or expense resulting from sickness

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14
Q

Service Plan

A

An insurance in which benefits are provided to subscribers in the form of services instead of monetary benefits

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15
Q

Primary Policy

A

An insurance policy which pays first the benefit as specified before the insured may submit a claim to a secondary or excess plan

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16
Q

Affordable Care Act (ACA)

A

A federal law that mandates increased preventive, educational and community-based health care services and that established the Health Insurance Marketplace to make health coverage available to any uninsured

17
Q

Basic Medical Expense Insurance

A

Health insurance that provides first-dollar coverage for medical, surgical and hospital services and features low coverage limits and limited benefit periods