Personal Finance Chapter 12

Front 1

Health insurance

Back 1

Insurance offered by private insurance companies or government that covers health care expenses

Front 2

Blue Cross/Blue Shield

Back 2

Nations largest health care insurer

Front 3

Private health insurance

Back 3

Health insurance that can be purchased from private insurance companies to provide coverage for health care expenses

Front 4

Fee for service plan (indemnity plan)

Back 4

Insurance that reimburses individuals for some or all of the expenses they incur

Front 5

Fee for service plan (indemnity plan)

Back 5

Insurance where policyholder is free to decide if they want care from a primary care physician or specialist

Front 6

Managed health care plan

Back 6

Requires individuals to receive services from specific doctors and hospitals

Front 7

Health maintenance organization

Back 7

Insurance plan that covers health care services approved by doctors; PMPM

Front 8

HMO

Back 8

Insurance that requires patients to get a referral before they can seek a specialist

Front 9

Preferred provider organization

Back 9

Health insurance plan that allows individuals to select a health care provider and covers most of the fees

Front 10

Discount on charge arrangement

Back 10

Arrangement where PPO pays a specific percentage of charges

Front 11

Per diem rate arrangement

Back 11

Arrangement where PPO pays provider a specific sum each day a patient is hospitalized

Front 12

Preexisting conditions

Back 12

Prevents people from buying insurance to treat existing illness or injuries

Front 13

Flexible spending account

Back 13

Account established by the employer for the employee to use pretax income

Front 14

Medicare

Back 14

Program that provides health insurance to individuals over 65 & qualify for social security benefits

Front 15

Medigap insurance

Back 15

Insurance provided by private companies to cover medical expenses not covered by medicare

Front 16

Medicare prescription drug improvement and modernization act of 2003

Back 16

Allows seniors to buy various forms of coverage for prescription drugs

Front 17

Health savings account

Back 17

An account that shelters income from taxes and can be used to pay health care expenses

Front 18

Medicaid

Back 18

Federal program that provides health care to the aged, blind, disabled, and needy families with dependent children

Front 19

COBRA

Back 19

States an individual can continue to have health insurance for 18 months after they stop working for that employer

Front 20

HIPAA

Back 20

Ensures workers can continue their health insurance coverage when switching jobs

Front 21

HIPAA

Back 21

Prohibits insurance companies from denying insurance based on applicants health satus, medical history, etc.

Front 22

Privacy rule

Back 22

Part of the HIPAA Act; protects personal information

Front 23

Probationary period

Back 23

Period extending from the time the disability income application is approved and time coverage goes into effect

Front 24

Waiting period

Back 24

Period from the time you are disabled and when you receive benefits