Intro to Health Insurance

Front

What is a PPO?

Back

A health insurance plan that allows you to see any doctor or specialist, or use any hospital.

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What is a premium in health insurance?

Back

The monthly/yearly fee you pay to an insurance company.

Front

What is a deductible?

Back

The amount that must be paid by the patient for medical services before the policy begins to pay.

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What is the out of pocket maximum?

Back

The amount of money an individual must pay before insurance will pay 100% of expenses for the remainder of the year.

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What is Medicaid?

Back

A medical assistance program that pays for the health care of individuals with low incomes.

Front

What is co-insurance?

Back

The percentage of costs of a covered healthcare service you pay after you've paid your deductible.

Front

What is an HMO?

Back

A health maintenance organization that requires members to get healthcare services from a network of providers.

Front

What is the difference between in-network and out-of-network providers?

Back

In-network providers have contracts with your insurance company to provide services at reduced rates, while out-of-network providers do not.

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What is a health savings account (HSA)?

Back

A tax-advantaged account that allows individuals to save for medical expenses.

Front

What is the purpose of an insurance policy?

Back

To provide financial protection against high medical costs.