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12 Cards in this Set
- Front
- Back
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During WW2, how was health insurance available? |
Health insurance was provided by employers, and continued after the war as an employee benefit. |
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What are the 2 biggest problems with Healthcare? |
Cost and Access |
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What is a Deductible? |
The specified amount a recipient pays before an insurance company will cover a claim. |
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What is a Co-Pay? |
The recipient pays a percentage of the cost, and the insurance company covers the difference. |
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Why is there a more rapid rise in costs on the Demand side? |
An increasing demand for healthcare, rising income, an aging population requires healthcare, etc. |
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Why is there a more rapid rise in costs on the Supply side? |
To cover the cost of paying physicians, purchasing advanced medical equipment, etc. |
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What is the Moral Hazard Problem? |
One party of an agreement alters behavior, which is costly to the other party. |
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What are HSA's? |
Health Savings Accounts, savings accounts for future health care expenses, nontaxable upon deposit. |
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What are PPO's? |
Preferred Provider Organizations, which outline specific hospitals and facilities covered by the plan. If a facility is not covered, a higher fee will be charged. |
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What are HMO's? |
Health Maintenance Organizations, list covered facilities and hospitals. If a facility is not covered by the plan, you'll have to pay out of pocket there. |
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What are Medicare and DRG? |
DRG = Diagnosis related group; A fixed payment is given to the hospital based on the diagnosis they give a patient. |
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What are the conditions of the Affordable Care Act? |
1) Insurance companies cannot deny coverage based on preexisting conditions 2) Subsidies included to not bankrupt the poor and middle class 3) Insurance exchanges allow shopping for gov't-approved health insurance policies 4) Taxes help pay for the previously uninsured |
