Health Insurance

Front

What is a deductible?

Back

A deductible is the amount of money you must pay each year before your insurance company starts paying for covered services.

Front

Who is a beneficiary in a life insurance policy?

Back

A beneficiary is the person who receives money from a life insurance policy if the insured person dies.

Front

What is term life insurance?

Back

Term life insurance is a type of life insurance that provides coverage for a specified term, such as 5 years, or until a specified age.

Front

What is a health maintenance organization (HMO)?

Back

A health maintenance organization (HMO) is a prepaid health plan in which care providers contract with (or are) employees of the organization to provide services.

Front

What is life insurance?

Back

Life insurance is financial protection for a family in case the main source of income dies.

Front

What is the purpose of health insurance?

Back

The purpose of health insurance is to cover medical expenses and provide financial protection against high healthcare costs.

Front

What is a premium in health insurance?

Back

A premium is the amount you pay for your health insurance every month.

Front

What is co-insurance?

Back

Co-insurance is the percentage of costs of a covered healthcare service you pay after you've paid your deductible.

Front

What is a network in health insurance?

Back

A network is a group of doctors, hospitals, and other healthcare providers that have agreed to provide services at reduced rates to insurance plan members.

Front

What is the difference between in-network and out-of-network providers?

Back

In-network providers have contracts with your insurance company to provide services at lower rates, while out-of-network providers do not, leading to higher costs for the insured.