chp 10 life ins exam
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8 Terms
What types of injuries and services will be excluded from major medical coverage?
Injuries caused by war, intentionally self-inflicted injuries, injuries covered by workers compensation, regular dental/vision/hearing care, custodial care, and elective cosmetic surgery
In what type of health plans are providers paid for services in advance, regardless of the services provided?
Prepaid plans
What is the purpose of the coinsurance provision in health insurance policies?
To prevent overutilization of the policy benefits
What are usual/reasonable and customary charges based on?
Average charge for a given procedure in the specific geographic area
What is a fee-for-service health plan?
Under a fee-for-service plan, providers receive payments for each service provided
What are the tax implications for contributions to a Health Savings Accounts by the individual insured?
Contributions are tax deductible
What are the two types of Flexible Spending Accounts?
Health care accounts and dependent care accounts
What is the purpose of managed care health insurance plans?
To control health insurance claims expenses
