Book 3 chapter 5

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Across
  1. 3. a tax-advantaged account set up by individuals who are covered under high deductible health plans to save for medical expenses their health plans do not cover
  2. 5. a state administered federal health insurance program for children in low-income families that do not qualify for Medicaid
  3. 8. a form of cost-sharing that requires the insured to pay a set percentage of medical expenses after the deductible has been met
  4. 9. a law that allows a person to continue to be covered under a company’s health insurance plan after termination from the company as long as the person pays for that coverage
  5. 11. the person(s) who will receive an insurance payout
  6. 12. the owner(s) of an insurance policy
  7. 14. promised payment for specific future losses should they occur in exchange for a payment called a premium
  8. 16. wealth and possessions left by someone to be divided after they die
  9. 17. specific services the insured is entitled to under the policy
  10. 18. protection from monetary losses associated with illness or bodily injury
  11. 19. protection from financial loss if a home is damaged or destroyed, a theft occurs, or the homeowner faces certain types of medical or liability claims
  12. 21. a form of cost-sharing that requires the insured to pay a fixed dollar amount for a medical service or prescription Coverage what the insurance company includes as part of the insurance policy
  13. 24. the federal website www.healthcare.gov where individuals and small businesses can shop for and purchase health insurance
  14. 25. the maximum amount one must pay for medical expenses; costs above the maximum are covered by the health insurer
  15. 26. a written contract between an insurer and a customer (the policyholder) describing the term of the insurance, what is covered, the cost of the premium, and the deductible amount
  16. 27. a government-provided health insurance program for individuals with limited income and resources
  17. 28. healthcare providers who have a signed contract with an insurance company to provide services at a predetermined rate; insurers can negotiate lower costs in exchange for giving the healthcare provider a potentially greater number of customers
  18. 29. a government-provided health insurance program for individuals over age 65 and some younger people with disabilities
Down
  1. 1. a company that pays to compensate the policyholder for losses or damages as described in an insurance policy as long as the premium is paid
  2. 2. an employer funded savings account that employees can use to pay for medical expenses their health plan does not cover
  3. 4. a dollar amount a policyholder pays before the insurer starts to make payments for a covered loss
  4. 6. the probability that something negative may happen
  5. 7. a means of protecting drivers and others in the event of an accident, theft, etc.
  6. 10. a health insurance plan with lower premiums and higher deductibles than a traditional health plan; currently (2019) defined by the Internal Revenue Service as any plan with a deductible of at least $1,350 for an individual or $2,700 for a family, with total yearly out-of-pocket expenses (including deductibles, copayments, and coinsurance) less than $6,650 for an individual or $13,300 for a family
  7. 13. money paid to a designated beneficiary when the insured person dies
  8. 15. a tax-advantaged account set up by an employer where the employee can deposit a fixed amount of wages to pay for uncovered medical expenses; all but $500 saved in the FSA must be used in the year the money is deposited
  9. 20. healthcare providers who have not signed a contract to charge negotiated rates with an insurance company
  10. 21. a policyholder’s official notification to the insurance company requesting payment of an amount due for a covered loss
  11. 22. the periodic payment for an insurance policy
  12. 23. protects one from financial loss if personal property is damaged, destroyed, or stolen