Chapter 27 Review Questions

Front

__________ is a plan for sharing the risk of financial loss resulting from an accident or illness.

Back

health insurance

Front

__________ is a type of health insurance in which all those insured have the same coverage and pay a set premium.

Back

group insurance

Front

The __________ is a law that allows people who leave employment to continue their health insurance under the company plan for a limited period of time (usually 18 months).

Back

Consolidated Omnibus Budget Reconciliation Act (COBRA)

Front

__________ is a group health insurance program that specifies how the insurers will share the cost when more than one policy covers a claim.

Back

coordination of benefits

Front

A __________ is an employee benefit program that allows employees to set aside money, pretax, to help pay deductibles, copayments, and other health expenses during the year that are not covered by insurance.

Back

Flex 125 Plan

Front

The three types of insurance (medical, hospital, and surgical) are called __________.

Back

basic health insurance

Front

__________ provides protection against the catastrophic expenses of a serious injury or illness.

Back

major medical coverage

Front

A __________ is an insurance clause that caps or sets a maximum that the insured has to pay during any calendar year.

Back

stop-loss provision

Front

A(n) __________ is used to pay qualified medical expenses not covered by insurance, including deductibles and copayments.

Back

health savings account

Front

A(n) __________ is a group health insurance plan offering prepaid medical care to its members.

Back

health maintenance organization