Which is Idemenity Plan and which is Managed Care Plan? Insureds create contract with an insurer who does not provide health care services The higher the deductible, the lower the premium Insured receive health care services from a designated group of providers May not even involve an insurance company No annual deduction is incurred, but a small co-payment may be required I most value the freedom of choice and am willing to pay for it. Cost is my most important consideration. I’d rather have the flexibility of either having the insurance company reimburse me or directly paying the health care provider.

Which is Idemenity Plan and which is Managed Care Plan? Insureds create contract with an insurer who does not provide health care services The higher the deductible, the lower the premium Insured receive health care services from a designated group of providers May not even involve an insurance company No annual deduction is incurred, but a small co-payment may be required I most value the freedom of choice and am willing to pay for it. Cost is my most important consideration. I’d rather have the flexibility of either having the insurance company reimburse me or directly paying the health care provider.

Personal Finance

13th Edition

ISBN:9781337669214

Author:GARMAN

Publisher:GARMAN

Chapter12: Life Insurance Planning

Section12.4: How To Buy Life Insurance

Problem 2CC

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An important distinction in health insurance is between the list price (PL) and out-of-pocket price (PP) of a medical good or service. The list price is the official price that the provider charges the insurance company, while the out-of-pocket price is the price that the insurance customer faces. Sometimes, the out-of-pocket price depends on the list price. Now assume the consumer is part of a partial insurance plan with a coinsurance provision. Her insurance pays 50% of all medical expenses. Consider again the relationship between PL and PP and plot a coinsurance plan demand curve in PL - Q space. Label this curve D3. Finally, assume the consumer is part of a partial insurance plan with a copayment provision. Her insurance pays all expenses above and beyond her copayment of $25 for each unit of Q. Consider again the relationship between PL and PP and plot a copayment-plan demand curve in PL - Q space. Label this curve D4.
Which of the following is correct about the effect of a deductible with respect to the price of an insurance policy? O A policy with a deductible will raise the premium. This will make the overall cost of insurance higher for policyholders who do not have a claim, but lower for those with high claims O A policy with a deductible will lower the premium. This will make the overall cost of insurance higher for policyholders who do not have a claim, but lower for those with high claims O A policy with a deductible will raise the premium. This will make the overall cost of insurance lower for policyholders who do not have a claim, but higher for those with high claims O A policy with a deductible will lower the premium. This will make the overal cost of insurance lower for policyholders who do not have a claim, but higher for those with high claims
1. Cost shifting occurs when a provider responds to low reimbursement rates by public payers (e.g., Medicare or Medicaid) or uncompensated care provided to the uninsured by charging private payers—insurers, managed care companies, or private individuals—more. Essentially, hospitals and physicians try to compensate for providing care below costs to some patients by raising their charges to others. To be able to do so, they would have had to not be fully exploiting their market power in the first place. What is a classic example of this in the healthcare marketplace and how would you go about developing a remedy to reduce the unfair burden cost shifting places on certain payers?
Which of the following statements regarding the Patient Protection and Affordable Care Act (ACA) is true? Group of answer choices a. The ACA eliminates lifetime limits on total health care insurance payments by insurers. b. The ACA limits the total number of surgeries for the insurers. c. The ACA requires employers to reimburse the cost of hospital stays of the insured. d. The ACA decides the insurance payments for dependents. e. The ACA provides major medical insurance with low deductibles to protect against catastrophic illnesses.
Question: 1) Which of the following is an example of mandatory deduction? A) Medical insurance. B) Union subscription C) Life insurance D) FNPF required: please answer this question by choosing the right option. *right/correct answer*
How can a patient benefit if the premiums paid are more than the cost of the medical care received? How can an insurance company benefit if the medical care it provides costs more than the premiums paid in?
What are the advantages and disadvantages of HAS along with a high-deductible health insurance plan?
One of the purposes that deductible are used in insurance policies is to O eliminate coverage for small claims. O place restrictions or limits on the insurer's promise to perform. provide broader coverage by increasing the number of perils covered. exclude perils that are not insurable.
The risk of patients not paying their account balances resulting in bad debt expense is a reality today. This risk is greater as employers increase out-of-pocket maximums, deductibles, and co-pays as part of their medical insurance plans. Research and discuss some best practices healthcare organizations are using today to improve their patient liability or balance due collection process.
Please add a source to the question. If you do want to elect COBRA coverage, what are some important considerations to make sure your health insurance coverage is not interrupted?
Describe a private insurance. what is it? Discuss the primary strengths and advantages, and weaknesses and disadvantages of the plan. how appealing is the plan to consumers? is it appealing to consumers?
The executive team is debating offering a standard group health insurance plan with a healthcare flexible spending account (FSA) or a high deductible group health insurance plan with a health savings account (HSA). They believe they understand the differences between the two group health insurance plans but are less clear on how FSAs and HSAs differ. Explain in clear language the differences between FSAs and HSAs so they can make an informed decision.

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Insureds create contract with an insurer who does not provide health care services
The higher the deductible, the lower the premium
Insured receive health care services from a designated group of providers
May not even involve an insurance company
No annual deduction is incurred, but a small co-payment may be required

I most value the freedom of choice and am willing to pay for it.
Cost is my most important consideration.
I’d rather have the flexibility of either having the insurance company reimburse me or directly paying the health care provider.