2025 Practice for Insurance Vocab ( Thursday flashcard)

Front

The amount you MUST pay out of pocket before insurance pays is called the

Back

deductible

Front

A health condition or injury, resulting in limitation of physical, mental or social activity of a person as compared with other people of same age, gender and occupation is

Back

disability

Front

The amount paid to keep insurance in force is the

Back

premium

Front

A(n) _________ is the amount of money you must pay each year before your insurance company starts paying

Back

deductible

Front

_______________ requires you to pay either a set amount or a certain percent of medical expenses

Back

co-insurance

Front

A(n) ____________ is a predetermined flat fee you pay for health care services

Back

co-payment

Front

formal request by a policyholder to an insurance company for coverage or compensation for a covered loss or policy event.

Back

Claim

Front

What does HMO stand for?

Back

Health Maintenance Organization

Front

Co-payment

Back

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

Front

What is an insurance premium?

Back

Your monthly payment to your insurer, regardless of whether you use any services