Health Insurance Basics

Front

What is the monthly cost of your insurance called?

Back

premium

Front

What is a fixed amount you pay for a service, such as $25 for office visits?

Back

co-pay

Front

The amount you must pay before your health insurance begins to pay is called

Back

deductible

Front

What is a co-payment (co-pay)?

Back

portion of the cost of service to be paid by the insured (a set dollar amount)

Front

What is a provider?

Back

a health professional, such as a doctor or specialist, who provides services

Front

What does HMO stand for?

Back

Health Maintenance Organization

Front

A 30 year old woman broke her arm and went to the ER for treatment. Her health insurance plan has a $1,500 deductible. What does this mean?

Back

She is responsible for paying, $1,500 of her medical expenses before her insurance starts to pay.

Front

What does PPO stand for?

Back

Preferred Provider Organization

Front

What is the definition of out-of-pocket maximum?

Back

The maximum amount you can pay out of pocket before insurance pays the rest.

Front

Valerie had to go to the doctor 3 times with the co-payments being $25 each time she went. Her premium is $200/month. What was her medical bill for the month?

Back

$275