MAA 102 ch. 1+4 MAA 102 – Flashcards
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What you found out
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Conclusion
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The amount of money an individual pays in return for health insurance coverage is called a/
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premium
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The transformation of health insurance from what it was in the beginning to what we know it to be today can be compared with an organic process referred to as
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metamorphosis
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In 1850, the Franklin Health Assurance Company began offering medical expense coverage, similar to today’s health insurance, in the state of
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Massachusetts
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The out-of-pocket expense that patients must pay before insurers begin paying benefits is called a/an ____________________.
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Deductible
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A condition or illness that is in existence before an individual’s healthcare coverage begins is called a/an ____________________.
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preexisting condition
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The type of healthcare policy that a business entity frequently offers its employees is called a/an ___________________ policy.
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group
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Healthcare plans that provide cost-effective care while attempting to contain expenditures are referred to as ____________________.
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managed healthcare
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The two major sources of health insurance are ___________________ programs and ___________________ organizations.
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government, private
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The two basic types of healthcare are ___________________ and ____________________.
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managed care, indemnity
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The federal act that allows employees who quit their jobs or get laid off to extend their group coverage is known by the acronym ___________________.
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COBRA
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The part of a provider’s charge that the insurance carrier will allow as a covered expense.
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UCR
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After the yearly deductible is met, the patient typically shares the bill with the insurance company in an arrangement called ____________________.
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Coinsurance
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A provider who is under no contractual agreement with the insurer to accept reimbursement as payment in full.
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NON PAR
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MSA/HSA
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A special tax shelter set up for the purpose of paying medical bills.
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The flexible spending account (FSA) is an IRS Section 125 _____________.
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cafeteria plan
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Illnesses or injury that occurred before the start of a health insurance contract.
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pre existing
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A periodic fee that is paid to an insurer for healthcare coverage.
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Premium
