1 / 6

Health, Disability, & Life Insurance

Chapter 14. Health, Disability, & Life Insurance. What is Health Insurance?. Form of protection that eases the financial burden people may experience as a result of illness or injury Coinsurance - percentage of medical expenses the policyholder must pay in addition to the deductible amount

kendis
Download Presentation

Health, Disability, & Life Insurance

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Chapter 14 Health, Disability, & Life Insurance

  2. What is Health Insurance? • Form of protection that eases the financial burden people may experience as a result of illness or injury • Coinsurance- percentage of medical expenses the policyholder must pay in addition to the deductible amount • Stop-loss provision- requires policyholder to pay all costs up to a certain amount, after which the insurance company pays 100% of the remaining expenses covered in the policy

  3. Co-payment • Flat fee that you pay every time you receive a covered service • Managed care- prepaid health plans that provide comprehensive health care to their members • Blue cross/Blue Shield- statewide organizations that provide hospital care benefits as well as surgical & medical services performed by physicians.

  4. Health Maintenance Organizations (HMO) • Health insurance plan that directly employs or contracts with selected or preapproved physicians to provide health care services in exchange for a fixed, prepaid monthly premium • Preferred provider organization (PPO)- group of doctors & hospitals that agree to provide specified medical services to members at prearranged fees • Point-of-service (POS) plan- combined features of HMO’s & PPO’s

  5. Medicare • Federally funded health insurance program available to people over 65 and to people with certain disabilities • Two parts • Hospital insurance • Medical insurance • Medicaid- medical insurance program offered to certain low-income individuals & families.

  6. Disability income insurance • Provides regular cash income when an employee is unable to work due to pregnancy, a non-work-related accident, or an illness • Life insurance • Beneficiary- person named to receive the benefits from an insurance policy • Types: • Term • Whole life

More Related