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Insurance Terms
Notes
Question | Answer |
---|---|
Deductible | Amount that must be paid by patient for medical services. |
Co-Insurance | Specific percentage of expense shared by patient and insurance (example: 90% and 10%) |
Co-Payment | Specific amount of money a patient pays for services. |
Preferred Provider | Restricts participant to certain providers that are contracted to provide care at a discount fee for services. |
Monthly Fee / Premium | Specific fee paid each month for insurance coverage. |
HIPAA | Insures strict guidelines for maintaining confidentiality of health care records. |
Managed Care | Developed in response to rising health care costs. Ensures that money is spent efficiently. |
Types of insurance plans include: | Health Maintenance Organizations (HMO), Prferred Provider Organizations (PPO), Medicare, Madicaid, Medigap, and Workers Comensation. |