C.19 Health insurance and health care cost management (individual and group) Flashcards

The amount paid, typically monthly, to an insurance company for health coverage.

The amount an insured individual must pay out-of-pocket before the insurance company begins covering expenses.

A fixed amount paid by the insured for a covered service, typically due at the time of service.

The percentage of healthcare costs shared between the insured and the insurance provider after the deductible is met.

The maximum amount an insured individual must pay in a plan year before insurance covers 100% of remaining covered costs.

A tax-advantaged account available to individuals with high-deductible health plans (HDHPs) to save for medical expenses.

A pre-tax account offered by employers that allows employees to pay for eligible medical expenses, typically with a “use-it-or-lose-it” rule.

A type of health plan that offers a network of preferred healthcare providers but allows for out-of-network care at higher costs.

A type of health plan requiring members to use a network of providers and obtain referrals from a primary care physician for specialist care.

A law that allows individuals to continue employer-sponsored health insurance for a limited time after job loss, typically at full cost.