Assignment: Chapter 09 Insuring Your Health 8. Terms of payment for medical expense plans But I Paid My Premiums! Besides possibly paying the premiums for a medical insurance plan, the insured is almost always responsible for making other, out-of-pocket payments. This practice helps keep overall costs down for both insureds and the insurance companies and ensures that insureds are informed about the costs of health care. For each of the following scenarios, select which type of other cost or provision is illustrated. Yvette has been hospitalized for an illness. Her insurance company has started paying 80% of covered medical expenses. Internal limits O Participation (co-insurance) Deductible Coordination of benefits Bob is covered under his medical insurance policy at work and also covered under his spouse's work plan. Bob has some large medical bills and since both Bob and his spouse contribute to their plans at work, Bob is trying to figure out a way to collect benefits for some of the same charges under both-plans. O Participation (co-insurance) Coordination of benefits Deductible Internal limits +
Assignment: Chapter 09 Insuring Your Health 8. Terms of payment for medical expense plans But I Paid My Premiums! Besides possibly paying the premiums for a medical insurance plan, the insured is almost always responsible for making other, out-of-pocket payments. This practice helps keep overall costs down for both insureds and the insurance companies and ensures that insureds are informed about the costs of health care. For each of the following scenarios, select which type of other cost or provision is illustrated. Yvette has been hospitalized for an illness. Her insurance company has started paying 80% of covered medical expenses. Internal limits O Participation (co-insurance) Deductible Coordination of benefits Bob is covered under his medical insurance policy at work and also covered under his spouse's work plan. Bob has some large medical bills and since both Bob and his spouse contribute to their plans at work, Bob is trying to figure out a way to collect benefits for some of the same charges under both-plans. O Participation (co-insurance) Coordination of benefits Deductible Internal limits +
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
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Transcribed Image Text:Assignment: Chapter 09 Insuring Your Health
8. Terms of payment for medical expense plans
But I Paid My Premiums!
Besides possibly paying the premiums for a medical insurance plan, the insured is almost always responsible for making other, out-of-pocket
payments. This practice helps keep overall costs down for both insureds and the insurance companies and ensures that insureds are informed about
the costs of health care.
For each of the following scenarios, select which type of other cost or provision is illustrated.
Yvette has been hospitalized for an illness. Her insurance company has started paying 80% of covered medical expenses.
Internal limits
O Participation (co-insurance)
Deductible
Coordination of benefits
Bob is covered under his medical insurance policy at work and also covered under his spouse's work plan. Bob has some large medical bills and since
both Bob and his spouse contribute to their plans at work, Bob is trying to figure out a way to collect benefits for some of the same charges under
both-plans.
O Participation (co-insurance)
Coordination of benefits
Deductible
Internal limits
+
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