Healthcare Insurance Concepts
Flashcard
•
Health Sciences
•
Vocational training
•
Hard
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28 questions
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1.
FLASHCARD QUESTION
Front
A designated amount of annual medical cost that must be paid by the patient before the full coverages by insurances pays
Back
deductible
2.
FLASHCARD QUESTION
Front
Insurance plan that is used only when a person has experienced a severe accident or unexpected debilitating illness or disease
Back
catastrophic
3.
FLASHCARD QUESTION
Front
Is the average price that pharmacies, hospitals, and other healthcare facilities pay for stock of a specific drug?
Back
Average wholesale price
4.
FLASHCARD QUESTION
Front
42% of people have this drug insurance coverage: Third-party insurances (private or employer)
Back
Third-party insurances (private or employer)
5.
FLASHCARD QUESTION
Front
Which party directly receives the benefits, services or products and is responsible for covering medical cost? Options: Second Party, Third Party, First Party, Tiered copayment
Back
First Party
6.
FLASHCARD QUESTION
Front
paying a certain percentage for a medical service or drug product along with any potential further billing
Back
coinsurance
7.
FLASHCARD QUESTION
Front
The insurance billing code that records supplies, equipment, and devices supplied for medical purposes
Back
HCPCS (healthcare common procedure coding system)
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