Final For Finance

Front 1

Coordination of benefits (COB)

Back 1

A method of integrating the benefits payable under more than one health insurance plan

Front 2

Hospital Expense insurance

Back 2

Pays part or all of hospital bills for room, board, and other charges

Front 3

Surgical expense insurance

Back 3

pays part or all of the surgeon's fees for an operation

Front 4

Physician expense insurance

Back 4

Provides benefits for doctors' fees for nonsurgical care, X rays, and lab tests

Front 5

Basic Health Insurance Coverage

Back 5

Combination of hospital expense insurance, surgical expense insurance, and physician expense insurance

Front 6

Major medical expense insurance

Back 6

Pays most of the costs exceeding those covered by the hospital, surgical, and physician expense policies

Front 7

deductible

Back 7

an amount the insured must pay before benefits become payable by the insurance company

Front 8

Coinsurance

Back 8

a provision under which both the insured and the insurer share the covered losses

Front 9

stop-loss

Back 9

a provision under which an insured pays a certain amount, after which the insurance company pays 100 percent of the remaining covered expenses

Front 10

Comprehensive major medical insurance

Back 10

A type of major medical insurance that has a very low deductible and is offered w/o a separate basic plan

Front 11

Hospital Indemnity policy

Back 11

Pays stipulated daily, weekly, or monthly cash benefits during hospital confinement

Front 12

Long-term care insurance (LTC)

Back 12

Provides day-in, day-out care for long-term illness or disability

Front 13

Copayment

Back 13

A provision under which the insured pays a flat dollar amount each time a covered medical service is received after the deductible has been met

Front 14

Blue Cross

Back 14

An independent, nonprofit membership corporation that provides protection against the cost of hospital care

Front 15

Blue Shield

Back 15

An Independent, nonprofit membership corporation that provides protection against the cost of surgical and medical care

Front 16

Managed care

Back 16

prepaid health plans that provide comprehensive health care to members

Front 17

Health Maintenance Organization (HMO)

Back 17

A health insurance plan that provides a wide range of health care services for a fixed prepaid monthly premium

Front 18

Preferred Provider organization (PPO)

Back 18

A group of doctors and hospitals that agree to provide health care at rates approved by the insurer

Front 19

Exclusive Provider Organization (EPO)

Back 19

Renders medical care from affiliated health care providers

Front 20

Point-of-service plan (POS)

Back 20

A network of selected contracted, participating providers; also called an HMO-PPO hybrid or open-ended HMO

Front 21

Medigap (MedSup)

Back 21

Supplements Medicare by filling the gap between Medicare payments and Medical costs not covered by Medicare

Front 22

Disability Income Insurance

Back 22

Provides payments to replace income when an insured person is unable to work