HAN 300 FINAL REVIEW 2026
EXPERT VERIFED ACE THE
TEST
health care - ANSWER ✔✔the treatment of illness and maintenance
of health
finance - ANSWER ✔✔funding
health care financing - ANSWER ✔✔funding for the treatment of
illness and maintenance of health
insurance - ANSWER ✔✔protects against risk
insured - ANSWER ✔✔(also called beneficiary) some who is covered
by insurance
,beneficiary - ANSWER ✔✔a person who derives advantage from
something, especially a trust, will or life insurance policy
insurer - ANSWER ✔✔a person or company that underwrites an
insurance risk; the party in an insurance contract undertaking to pay
compensation
underwriting - ANSWER ✔✔process that insurer does to evaluate,
selecting or rejecting classifying and rating risk
o 4 types:
Risk is unpredictable for the individual insured
Reasonable can be predicted with a reasonable degree of accuracy
Insurance can transfer risk from group to individual through pooling of
resources
Losses are shared by all members
experience rating - ANSWER ✔✔premium can be unaffordable for
high-risk groups most commonly associated with worker's compensation
insurance
community rating - ANSWER ✔✔good risks subsidize poor risks
,adjusted community rating - ANSWER ✔✔(required by ACA): takes
into account individual vs. family enrollment, geographic area, age,
tobacco use
benefits - ANSWER ✔✔services covered by an insurance plan
copayment - ANSWER ✔✔flat amount paid per service
coinsurance - ANSWER ✔✔set proportion of medical costs insured
pay out of pocket
o Ex. you pay 20% the insurance pays 80%
deductible - ANSWER ✔✔amount the insured pays first before
benefits are paid by the plan
o Applied annually
service description - ANSWER ✔✔a description of the health care
services you received, like a medical visit, lab tests, or screenings
provider charges - ANSWER ✔✔is the amount your provider bills for
your visits
allowed charges - ANSWER ✔✔is the amount your provider will be
reimbursed; this may not be the same as the provider charges.
COPYRIGHT©NINJANERD 2025/2026. YEAR PUBLISHED 2026. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE. PRIVACY
STATEMENT. ALL RIGHTS RESERVED
3
, paid by the insurer - ANSWER ✔✔the amount your insurance plan
will pay to your provider
payee - ANSWER ✔✔the person who will receive any reimbursement
for over-paying the claim
what you owe - ANSWER ✔✔the amount the patient or insurance
plan member owes after your insurer has pay everything else. You may
have already paid a portion of this amount, and payments made directly
to your provider may not be subtracted from this amount
remark code - ANSWER ✔✔a note from the insurance plan that
explains more about the costs, charges and paid amounts for your visit.
premium - ANSWER ✔✔amount charged by the insurer per month to
prevent risk
deductible - ANSWER ✔✔annual payment for insurance price based
on the plan you choose before they cover something
health savings account - ANSWER ✔✔accounts you can draw from
to cover health expenses
minimal essential coverage - ANSWER ✔✔complies with the
coverage for the Affordable Care Act that covers free preventative care
EXPERT VERIFED ACE THE
TEST
health care - ANSWER ✔✔the treatment of illness and maintenance
of health
finance - ANSWER ✔✔funding
health care financing - ANSWER ✔✔funding for the treatment of
illness and maintenance of health
insurance - ANSWER ✔✔protects against risk
insured - ANSWER ✔✔(also called beneficiary) some who is covered
by insurance
,beneficiary - ANSWER ✔✔a person who derives advantage from
something, especially a trust, will or life insurance policy
insurer - ANSWER ✔✔a person or company that underwrites an
insurance risk; the party in an insurance contract undertaking to pay
compensation
underwriting - ANSWER ✔✔process that insurer does to evaluate,
selecting or rejecting classifying and rating risk
o 4 types:
Risk is unpredictable for the individual insured
Reasonable can be predicted with a reasonable degree of accuracy
Insurance can transfer risk from group to individual through pooling of
resources
Losses are shared by all members
experience rating - ANSWER ✔✔premium can be unaffordable for
high-risk groups most commonly associated with worker's compensation
insurance
community rating - ANSWER ✔✔good risks subsidize poor risks
,adjusted community rating - ANSWER ✔✔(required by ACA): takes
into account individual vs. family enrollment, geographic area, age,
tobacco use
benefits - ANSWER ✔✔services covered by an insurance plan
copayment - ANSWER ✔✔flat amount paid per service
coinsurance - ANSWER ✔✔set proportion of medical costs insured
pay out of pocket
o Ex. you pay 20% the insurance pays 80%
deductible - ANSWER ✔✔amount the insured pays first before
benefits are paid by the plan
o Applied annually
service description - ANSWER ✔✔a description of the health care
services you received, like a medical visit, lab tests, or screenings
provider charges - ANSWER ✔✔is the amount your provider bills for
your visits
allowed charges - ANSWER ✔✔is the amount your provider will be
reimbursed; this may not be the same as the provider charges.
COPYRIGHT©NINJANERD 2025/2026. YEAR PUBLISHED 2026. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE. PRIVACY
STATEMENT. ALL RIGHTS RESERVED
3
, paid by the insurer - ANSWER ✔✔the amount your insurance plan
will pay to your provider
payee - ANSWER ✔✔the person who will receive any reimbursement
for over-paying the claim
what you owe - ANSWER ✔✔the amount the patient or insurance
plan member owes after your insurer has pay everything else. You may
have already paid a portion of this amount, and payments made directly
to your provider may not be subtracted from this amount
remark code - ANSWER ✔✔a note from the insurance plan that
explains more about the costs, charges and paid amounts for your visit.
premium - ANSWER ✔✔amount charged by the insurer per month to
prevent risk
deductible - ANSWER ✔✔annual payment for insurance price based
on the plan you choose before they cover something
health savings account - ANSWER ✔✔accounts you can draw from
to cover health expenses
minimal essential coverage - ANSWER ✔✔complies with the
coverage for the Affordable Care Act that covers free preventative care
