CDHP: Accident and Health Insurance Questions
with Verified Correct Answers
Health Insurance
offset risk of disability or prolonged illness
2 ways to purchase health insurance
group plan & individual plan
2 perils of health insurance
sickness & accident
2 kinds of losses in health insurance
medical bills & lost income
2 types of health insurance policies
medical expense policies & disability income policies
Medical Expense Policies pay:
the doctors, nurses, hospitals
Disability Income Policies pay:
insured as replacement check
Medical Expense
Which Health Insurance policy?
-whole family covered
-paid immediately
- no guaranteed premiums (adjustable)
- dollar deductible
Disability Income
Which Health Insurance Policy?
- wage earner covered
, - paid monthly or bi-weekly according to paychecks
- guaranteed premiums
- deductible = elimination period
Elimination Period
time without benefits
Deductible
Amount you must pay before you begin receiving any benefits from your insurance company
Blue Cross/Blue Shield
Prepaid medical benefits for "subscribers" @ approved facilities; many non-profit.
Health Maintenance Organization (HMO)
an organization that provides comprehensive medical care to subscribers for a fixed fee
-early treatment
-preventive medicine
- out-patient treatment
Preferred Provider Organization (PPO)
a group of doctors and hospitals that agree to provide health care at rates approved by the
insurer
- fee-for-service basis
Managed Care
Primary care physicians acting as gate keepers
Preventive Care
alternatives to hospitals (surgical centers & hospices)
High Deductible Health Plan (HDHP)
A health insurance policy that requires the policyholder to pay more out-of-pocket medical
expenses but usually has lower premiums than traditional health insurance plans.
consumer-driven health plan (CDHP)
a type of managed care in which a high-deductible, low premium insurance plan is combined
with a pretax savings account to cover out-of-pocket medical expenses
Health Reimbursement Account (HRA)
with Verified Correct Answers
Health Insurance
offset risk of disability or prolonged illness
2 ways to purchase health insurance
group plan & individual plan
2 perils of health insurance
sickness & accident
2 kinds of losses in health insurance
medical bills & lost income
2 types of health insurance policies
medical expense policies & disability income policies
Medical Expense Policies pay:
the doctors, nurses, hospitals
Disability Income Policies pay:
insured as replacement check
Medical Expense
Which Health Insurance policy?
-whole family covered
-paid immediately
- no guaranteed premiums (adjustable)
- dollar deductible
Disability Income
Which Health Insurance Policy?
- wage earner covered
, - paid monthly or bi-weekly according to paychecks
- guaranteed premiums
- deductible = elimination period
Elimination Period
time without benefits
Deductible
Amount you must pay before you begin receiving any benefits from your insurance company
Blue Cross/Blue Shield
Prepaid medical benefits for "subscribers" @ approved facilities; many non-profit.
Health Maintenance Organization (HMO)
an organization that provides comprehensive medical care to subscribers for a fixed fee
-early treatment
-preventive medicine
- out-patient treatment
Preferred Provider Organization (PPO)
a group of doctors and hospitals that agree to provide health care at rates approved by the
insurer
- fee-for-service basis
Managed Care
Primary care physicians acting as gate keepers
Preventive Care
alternatives to hospitals (surgical centers & hospices)
High Deductible Health Plan (HDHP)
A health insurance policy that requires the policyholder to pay more out-of-pocket medical
expenses but usually has lower premiums than traditional health insurance plans.
consumer-driven health plan (CDHP)
a type of managed care in which a high-deductible, low premium insurance plan is combined
with a pretax savings account to cover out-of-pocket medical expenses
Health Reimbursement Account (HRA)
