Term
| major medical insurance; health savings accounts; long-term care insurance; disability-income insurance |
|
Definition
| types of individual health coverages |
|
|
Term
| a plan that pays a high percentage of covered expenses incurred by an insurance who has a catastrophic illness or injury |
|
Definition
|
|
Term
| most individual medical expense plans sold today are |
|
Definition
|
|
Term
| primary purpose is to relieve the insured of the crushing financial burden of a catastrophic loss |
|
Definition
|
|
Term
| high lifetime limits; broad range of benefits; deductible; coinsurance; out-of-pocket limit; exclusions; internal limits |
|
Definition
| characteristics of a typical major medical policy |
|
|
Term
| a characteristic of major medical insurance that typically range from $2 million to $8 million and are necessary to meet the crushing financial burden of a major catastrophic loss |
|
Definition
|
|
Term
| part of the broad range of benefits offered by a major medical insurance - include room and board charges for the hospital room, meals, routine nursing care, and other services |
|
Definition
| inpatient hospital services |
|
|
Term
| typically pays for the cost of a semi private room, but if the hospital only has private rooms, benefits may be limited to the cost of the most common semi-private room in the area |
|
Definition
| inpatient hospital services |
|
|
Term
| part of the broad range of benefits offered by major medical insurance - coverage typically includes surgery as an outpatient in a hospital or separate outpatient facility, preadmission tests given prior to admission into the hospital as an inpatient, outpatient chemotherapy and radiation therapy, outpatient services provided in an emergency room |
|
Definition
|
|
Term
| part of the broad range of benefits offered by major medical insurance - major medical plans typically cover office visits to your doctor; consultations with specialists; surgeon's fees; cost of anesthesia services; and serves provided by chiropractors, physician's assistants, nurse practitioners, physical therapists, and other therapists |
|
Definition
|
|
Term
| with major medical physicians' services, surgeons and other physicians are commonly reimbursed on the basis of |
|
Definition
| reasonable customary charges |
|
|
Term
| in most cases the surgeon's actual fee will be substantially above the |
|
Definition
| reasonable and customary charge |
|
|
Term
| what charge w/ major medical physicians' services s the lower of the surgeon's actual fee or the reasonable customary charge |
|
Definition
|
|
Term
| one way to provide coverage for prescription drugs in major medical where charges for prescription drugs are subject to the same deductible and coinsurance charges that apply to other covered medical expenses |
|
Definition
|
|
Term
| one way to provide coverage for prescription drugs in major medical where the prescription drugs are subject to their own deductible and copayment charges |
|
Definition
|
|
Term
| a program for prescription drug coverage that is usually administered by a third party administrator, such as a benefit pharmacy manager - a three tier or four-tier system of pricing is commonly used |
|
Definition
|
|
