Traditional fee for service plans refer to their customers as
A. insureds
Which of the following terms describes a medical expense policy that pays a provider a set fee for their services regardless of the charge?
B. Benefit schedule
Major medical benefits usually begin after the insured has incurred an initial annual amount of out-of-pocket expense called a
C. deductible
All of the following are typically excluded from medical expense plans EXCEPT
C. mental illness treatment
The out-of-pocket limit is also known as the
B. stop-loss limit
Which of the following is least likely to be covered by a major medical expense?
D. Dental care
A type of health insurance that provides a much broader range of medical expenses and higher benefit amounts is a
D. major medical expense policy
Hospice care is used to
A. alleviate pain and suffering for terminally ill patients, but does not attempt to cure
The dollar limit beyond which the insured is no longer required to pay coinsurance the
B. stop-loss limit
The sharing of expenses between the insured and the insurer is an example of the
C. stop-loss limit
A deductible that falls between two periods where the insurance company pays is known
as a
D. corridor deductible
Prepaid medical expense plans refer to their
customers as
A. subscribers/participants
Sarah has a $200 deductible and a 20% coinsurance for her medical expense plan. Her first medical bill of the year is $1200. Sarah will pay the $200 deductible. How much money will Sarah still need to pay?
D. $200
Which of the following terms describes the limits that a person will have to pay in any calendar year for covered medical expenses?