Finance Chapter 9 DoL - Dawson Keally

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Across
  1. 3. A provision under which an insured pays a certain amount, after which the insurance company pays 100% of the remaining covered medical expenses
  2. 4. Prepaid health plans that provide comprehensive health care to their members. Designed to control the cost of health care services by controlling how they are used. Often offered by HMOs, PPOs, and POSs.
  3. 5. A health insurance account available to workers, it allows people to contribute money to a tax free account that can be used for out of pocket health care expenses. This account does have quite a bit of restrictions on it, for example the deductible must be at least $1250 for individuals, or $2500 for family coverage before they’re able to contribute, as well as out-of-pocket spending limits
  4. 8. Policies that pay segmented cash benefits while you’re in the hospital. The money can be used for medical, non-medical, or supplementary expenses
  5. 9. Provides day in, day out care for long-term illnesses or disabilities.
  6. 10. An account tied to high deductible insurance policies, they’re funded solely by one’s employer and provide money to give to healthcare services. Premiums with these accounts are generally lower for both the employer and the employee.
  7. 14. Private insurance companies approved by medicare provide this coverage. You must see doctors that are in the plan, and you’re not free to choose your doctor, though your healthcare costs may be lower.
  8. 16. Available to all who are part of medicare, this involves in-patient hospital care, care in a skilled nursing facility, home health care, and hospice care.
  9. 17. A provision under which the insured pays a flat dollar amount each time a covered medical service is received after the deductible has been met.
  10. 18. an amount the insured person must pay before medical expenses are reimbursed by the insurance company.
  11. 19. An optional part of medicare that you must enroll for, as well as paying insurance premiums.
Down
  1. 1. The trifecta containing physician expense insurance, hospital expense insurance, and surgical expense insurance.
  2. 2. Coverage offered without a separate basic plan, this coverage is all inclusive, helps pay hospital, surgical, and other, and has a low annual deductible.
  3. 6. A policy that will cover only the fixed amounts of an expense, such as the daily cost of room and board during a hospital stay.
  4. 7. The requirements that define who is covered by a policy, such as family relationship or age.
  5. 11. An independent membership corporation that provides protection against the cost of hospital care.
  6. 12. A provision in which both the insured and the insurer share the covered costs of medical treatment.
  7. 13. Coverage for those over the age of 65, anybody with permanent kidney failure, and people with certain disabilities. Covers most medical problems and will reimburse you for part of the expense.
  8. 15. These accounts are managed by one’s employer, and allow you to contribute pre-tax dollars to them. In some cases, money can be carried over that’s left from the previous year. These accounts do not carry over to other employers.