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What is premium? When is it paid?
Fee patients pay to be in a insurance plan monthly
What is a deductible? How often do you pay?
A deductible is a fee you pay before a service. Annually.
What are out of pocket expenses?
Payments out of your own pocket
What is the difference between copayment and coinsurance?
Copayment is a set cost while coinsurance is a set percantage
What is beneficiary?
People you put under your insurance
What is a policy?
The benefits that plans offer
What is health insurance carrier?
A company that provides health insurance plans
Medicare V. Medicaid
Medicare is for 65+ funded by the federal government. Medicaid is for low income people funded by the state government.
3 types of manages care
HMO - Health maintenance organization , based on monthly premium
POS - point of service, must have to have a primary care physician
PPO - Preferred provider organization, fee for service
Who uses capitation? Who use fee for service? Who uses 0 deductible?
HMO capitation, PPO fee for service, POS 0 deductible
Birthday plan?
When putting your child under an insurance, it must go to the parent whose birthday is first. If on the same day, the earlier affective date would be better.
When should insurances be verified?
Before patients are admitted to the hospital
What is the goal of manages care?
To prevent future diseases / illnesses
Group V. Individual
Group - everyone pays a certain amount, plan is picked out for you, by employers
Individual - Pays the whole premium & you can pick your own plan.
What is an exclusion?
Things that your insurance wont cover at all.
80/20 plan, what is this?
Once deductible is met, they pay 80% while you pay 20%.
Note 
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