insurance

Question 1

premium

Answer 1

amount of money an individual or business pays for insurance policy per month

Question 2

deductible

Answer 2

amount you pay out of pocket before your insurance starts paying

Question 3

co-insurance

Answer 3

specific % of expenses are shared by the patient and insurance company ex) 90/10

Question 4

co-payment

Answer 4

amount of money a patient pays for a particular service -this does not go towards the deducible

Question 5

PPO(preferred provider organization)

Answer 5

-own network of doctors
-negotiated payments
-higher cost for members
-freedom of choosing a provider
-do not have to establish a primary physician

Question 6

HMO(health maintiness organization)

Answer 6

-own network of doctors
-negotiated payments
-lower cost for members
-restricted to few doctors
-emphasizes preventative care

Question 7

medicaid
(aid people in need)

Answer 7

-federal/state funded
-low income families, children with public assistance need, disabled/blind, needy

Question 8

medicare
(care for old people)

Answer 8

-federally funded
-65 or older, qualifying disabilities