HLTH 330 Ch. 11 Review 2024/2025 updated

HLTH 330 Ch. 11 ReviewThe US spends approximately how much on healthcare per year? - correct answer $3 trillion Out-of-pocket expenses - correct answer Payments for health services not covered by insurance that are the responsibility of the individual receiving the services Cap - correct answer A limit on the total amount that the insurance will pay for a service per year, per benefit period, or per lifetime Copayment - correct answer An amount that the insured is responsible for paying even when the service is covered by the insurance Copayment - correct answer An amount that the insured is responsible for paying even when the service is covered by the insurance Coinsurance - correct answer In contrast to copayment, the percentage of the charges that the insured is responsible for paying Covered service - correct answer A service for which health insurance will provide payment or coverage if the individual is eligible- in other words, any deductible has already been paid Customary, prevailing, and reasonable standards - correct answer Used in the past by many insurance plans to determine the amount that would be paid to the provider of services Deductible - correct answer The amount that an individual or family is responsible for paying before being eligible for insurance coverage Eligible - correct answer An individual may need to meet certain criteria to be able to enroll in a health insurance plan