Insurance Day 3

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Last updated 6:04 PM on 8/19/26
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9 Terms

1
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Medicare

A federal health insurance program for persons 65 years and older

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Medicaid

Federal program that provides medical benefits for low-income persons.

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Copay

a fixed fee you pay for specific medical services

<p>a fixed fee you pay for specific medical services</p>
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Co-insurance

the percentage of the medical bill that the insured must pay, AFTER the deductible has been met

<p>the percentage of the medical bill that the insured must pay, AFTER the deductible has been met</p>
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HMO (Health Maintenance Organization)

Health insurance that requires a Primary Care Physican and wants you to only use in-network doctors

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PPO (Preferred Provider Organization)

Health Insurance that contracts with medical providers, such as hospitals and doctors, to create a network of participating providers. You pay less if you use providers that belong to the plan's network.

<p>Health Insurance that contracts with medical providers, such as hospitals and doctors, to create a network of participating providers. You pay less if you use providers that belong to the plan's network.</p>
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Disability Insurance

Provides payment to replace earnings during times when workers cannot work due to illness or injury

<p>Provides payment to replace earnings during times when workers cannot work due to illness or injury</p>
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long-term care insurance

Provides payment for extended nursing care due to accidents, illness, or old age

<p>Provides payment for extended nursing care due to accidents, illness, or old age</p>
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Maximum Out-of-Pocket Expense

The most you have to pay for covered services in a year