PAU Insurance Terminology

What is a copayment?

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

• Coordination of benefits

• Term of conditions not covered by the insurance company

• Provider bill for service

A __________ is any person who has coverage under a health insurance plan.

• Payer

• Provider

• Beneficiary

• Guarantor

What is the amount a patient owes after an insurance company pays for their portion of the medical expenses?

• Premium

• Patient Responsibility

• Contractual

• Conrate

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

• The amount of money you pay to your insurance company every month

• The deductible you have to pay for insurance

• The most a patient pays out of pocket before insurance begins to pay in full

• The amount of money your pockets can hold

What is the percentage of costs you share between you and your insurance company?

• Lifetime Max

• Coinsurance

• Beneficiary

• Copayment

What is the amount of money you must pay each year before your insurance company starts paying?

• Health Insurance

• Deductible

• Coinsurance

• Copayment

Insurance that provides lost income as a result of an injury on the job.

• Product liability insurance

• Business interruption insurance

• Workers' compensation insurance

• Disability income insurance

What is MVA insurance?

• Insurance coverage offered to employees by the employer

• Insurance for patients who suffer auto accident injuries and the expenses are covered by the auto insurance

• Insurance policy an individual must purchase on their own

• Insurance offered by the government

Which of the following is true about Medicaid?

• Jointly funded by state and federal

• Managed by each state

• Available in all states

• None of the above