Across
- 4. The practice or arrangement in which a company or government agency provides a guarantee of compensation for specified loss, damage, illness, or death in return for payment of a premium.
- 6. The amount of expenses the insured must pay before the insurance company will contribute toward the covered item. For example, the amount you pay for covered health care services before your insurance plan starts to pay is your deductible.
- 7. An account at a bank, insurance company, or other financial institution that lets you set aside pre-tax money, sometimes directly from your paycheck, to pay for eligible medical expenses(3 wds)
- 9. The amount of money that has to be paid for an insurance policy
- 10. Someone or something named to receive proceeds or benefits. In the insurance context, it’s the person, charity, trust, or estate designated by the policyholder to receive the policy's benefits or payments.
- 13. The individual or firm that acquires and wants protection from the risk and generally in whose name an insurance policy is written. The holder is not necessarily the insured. For instance, life insurance policies might be bought by employers of key employees, or a person may buy and be the holder of a life insurance policy on their spouse. In such cases, the buyer is the policyholder.
- 14. The person, group, or organization whose life or property is covered by an insurance policy.
- 15. The single largest source of health coverage in the United States; it is a joint federal and state program that, together with the Children’s Health Insurance Program, provides health coverage to low income Americans, including children, pregnant women, parents, seniors, and individuals with disabilities.
Down
- 1. A fixed amount ($20, for example) you pay for a covered health care service in addition to the amount your insurer pays.
- 2. the splitting or spreading of risk among multiple parties. In the U.S. insurance market, coinsurance is the joint assumption of risk between the insurer and the insured. In health insurance, coinsurance is sometimes used synonymously with copayment, but copayment is really fixed while coinsurance is a percentage that the insurer pays after the insurance policy's deductible is exceeded up to the policy's stop loss.
- 3. A person or company offering insurance policies in return for premiums; person or organization that insures.
- 5. Something that an employer, the government, or an insurance company provides that’s often used only for a particular purpose, such as food or medical costs. Also: An advantage; something that is good.
- 8. The expenses and losses that are not reimbursed by insurance. This cost includes deductibles, copayments, and amounts paid for services or repairs that are excluded from coverage. It’s the amount paid before insurance coverage kicks in. (4 wds)
- 11. The insured’s request for payment due to loss incurred and covered under the policy agreement.
- 12. A fixed or limited period of time for which something lasts or is intended to last (for example, a five-year loan, a three-year certificate of deposit, a one-year insurance policy, a 30-year mortgage).
- 13. In the insurance context, it is a written contract between the insured and the insurer.