What are the four health insurance terms?

What are the four basic types of health insurance?

The four types of health insurance plans you should know are:

  • Preferred provider organization (PPO) plan.
  • Health maintenance organization (HMO) plan.
  • Health savings account (HSA)-qualified plan.
  • Indemnity plans.

What is the term for health insurance?

Health insurance or medical insurance is a type of insurance that covers the whole or a part of the risk of a person incurring medical expenses. As with other types of insurance is risk among many individuals.

What are the key terms associated with health insurance?

10 Health Insurance Terms You Should Know

  • Deductible. A deductible is what you pay annually for health services before your insurance company pays its share. …
  • High Deductible Health Plan. …
  • Health Savings Account. …
  • Premium. …
  • Copayment. …
  • Coinsurance. …
  • Out-of-Pocket Maximum. …
  • HMO.

What are the top five terms that have to do with health insurance policies?

Top five individual health insurance terms

  • Premium. Your premium is the amount you pay to the health insurance company each month to maintain your coverage. …
  • Copayment. Your copayment, or co-pay, is a flat dollar amount you pay your healthcare provider for a covered service. …
  • Deductible. …
  • Coinsurance. …
  • Out-of-pocket maximum.
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What are the 5 main types of private insurance?

In this Article

  • Health Maintenance Organization (HMO)
  • Preferred Provider Organization (PPO)
  • Exclusive Provider Organization (EPO)
  • Point-of-Service Plan (POS)
  • Catastrophic Plan.
  • High-Deductible Health Plan With or Without a Health Savings Account.

What are the three types of healthcare?

Levels of Care

  • Primary Care.
  • Secondary Care.
  • Tertiary Care.
  • Quaternary Care.

What are the two main types of health insurance?

There are two main types of health insurance: private and public, or government. There are also a few other, more specific types. The following sections will look at each of these in more detail.

What are some insurance terms?

Important Insurance Terms

  • Premium. This is the actual cost of your insurance plan. …
  • Deductible. …
  • Co-Pay. …
  • Coinsurance. …
  • Provider Network. …
  • Usual, Reasonable and Customary. …
  • Pre-existing Conditions. …
  • Beneficiary.

What is the difference between ASO and TPA?

The difference between TPA & ASO is like a Buick & Chevy (a different name badge). … Thus was born the ASO (Administrative Services Only) marketing term for the TPA look-alike. As years passed, many insurers acquired interest in TPAs and placed their self-funded business in those independent-named TPA firms.

What is basic medical insurance?

Basic Plans

A basic plan usually includes the everyday costs of medical treatments; like hospital stays, surgeries and emergency treatment. In most instances, these plans pay one hundred percent of cost; however, there could be a payment limit. This leaves the individual to cover the balance.

What is healthcare terminology?

Terminology in Healthcare – Different from what you expect

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Medical Terminology refers to the vocabulary that medical professionals use to describe the body—what it does, diseases that impact it, and procedures to correct it —enabling precise communication among practitioners.