insurance terms Flashcards
1
Q
Premium
A
The amount paid to an insurance agency for health insurance policy
2
Q
Out of pocket costs
A
Include deductibles, coinsurance, and copayments or covered serves plus all costs for services that aren’t covered.
3
Q
Group insurance
A
insurance that is purchased through an employer. the premiumm is split between the employer and the person being insured
4
Q
Co-insurance
A
requires that specific percentages of expenses are shared by the patient and the insurance company
5
Q
deductible
A
the amount that must be paid by the patient before the insurance agency will begin to make payments
6
Q
co-payments
A
a specific amount of money a patient pays for a particular service.
7
Q
Individual insurance
A
when a person purchases a policy and agrees to pay the entire premium for health coverage
