Health Insurance Flashcard

Front

What is a deductible?

Back

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

Front

What is a co-pay?

Back

The specific amount of money a patient pays for a particular service.

Front

What is Medicare?

Back

A federal government program that provides healthcare for almost all individuals over the age of 65.

Front

What is an insurance premium?

Back

The monthly fee you pay to an insurance company.

Front

What is a PPO?

Back

A health insurance plan that contracts with certain health care agencies to provide reduced rates.

Front

What is an HMO?

Back

A health maintenance organization that provides health services for a fixed annual fee.

Front

What is out-of-pocket maximum?

Back

The most you have to pay for covered services in a plan year.

Front

What is a network in health insurance?

Back

A group of doctors, hospitals, and other health care providers that have agreed to provide services at reduced rates.

Front

What is a pre-existing condition?

Back

A health issue that existed before the start of a new health insurance policy.

Front

What is a health savings account (HSA)?

Back

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