Financial Math Q4 Vocabulary

A fixed dollar amount that you agree to pay each time you receive medical treatment, such as a doctor’s visit or prescription.

• Copay

• Premium

• Deductible

• Coinsurance

Tags

CCSS.5.NBT.A.2

A type of insurance paid to an individual if they are injured and unable to work for a specified length of time.

• Disability Insurance

• Life Insurance

• Homeowners Insurance

• Auto Insurance

Tags

CCSS.RI.9-10.4

CCSS.RI.9-10.4

CCSS.RI.11-12.4

CCSS.RI.7.4

CCSS.RI.8.4

A percentage you pay each time you receive medical treatment, after you’ve paid your deductible.

• Coinsurance

• Premium

• Copayment

• Out-of-pocket maximum

Tags

CCSS.6.RP.A.3C

Insurance paid to named beneficiaries when the insured person dies.

• Life Insurance

• Health Insurance

• Auto Insurance

• Travel Insurance

Auto insurance that protects you against costs to repair or replace your vehicle after events out of your control such as weather, vandalism, theft, etc.

• Comprehensive Coverage

• Liability Coverage

• Collision Coverage

• Personal Injury Protection

A form of property insurance that covers losses to the physical structure as well as to their personal property and protects the insured person from liability claims.

• Homeowners Insurance

• Auto Insurance

• Health Insurance

• Life Insurance

A health insurance plan in which providers agree to deliver services for discount fees; patients can go to any provider, but using nonparticipating providers results in higher costs to the patient.

• PPO

• HMO

• EPO

• POS

A formal request from the customer to an insurance company asking for a payment based on the terms of the insurance policy.

• Claim

• Premium

• Deductible

• Policy

Tags

CCSS.L.11-12.4C

CCSS.L.6.4C

CCSS.L.7.4C

CCSS.L.8.4C

CCSS.L.9-10.4C

The spreading of financial risk evenly among a large number of contributors to the program.

• Risk Pooling
• Risk Management

• Risk Evaluation

• Risk Association

Tags

CCSS.HSS.IC.B.3

A federal and state assistance program that pays for health care services for people who cannot afford them.

• Medicaid

• Medicare

• CHIP

• Tricare