HCM 480 EXIT EXAM QUESTIONS & ANSWERS 2024/2025
Know what happens economically as a result of unemployment and loss of insurance - ANSWERSLOOK UP
Generally speaking, when demand for medical services goes down- like during periods of unemployment when people lose their insurance coverage- pr...
Know what happens economically as a result of unemployment and loss of insurance - ANSWERSLOOK
UP
Generally speaking, when demand for medical services goes down- like during periods of unemployment
when people lose their insurance coverage- prices will:
A) Rise gradually
B) Rise sharply
C) Decline
D) Demand and prices are not related - ANSWERSC) Decline
Deductible - ANSWERSmoney the patient has to spend before insurance pays anything
Co-payment - ANSWERSa fixed amount the patient pays to use the insurance
Premium - ANSWERSamount paid, usually per month, for the insurance policy
Out of pocket maximum - ANSWERSthe limit of out of pocket fees someone pays
Limit balance billing - ANSWERSDoctors cannot split Medicare Participation; Physicians not participating
in Medicare are limited to collecting more than 109% from Medicare Patients
Indemnity - ANSWERSreimburse the patient for the cost, some fixed amount or percentage of cost
Pure Premium - ANSWERSthe amount of the premium allocated to cover the risk of loss
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