Coinsurance payment - Study guides, Class notes & Summaries

California property and casualty exam, Pool Questions & Answers. Verified. Rated A The process where by a mutul insurer becomes a stock company is called - Demutalization The process whereby a stock company a mutal insurer is called - Mutalization The provision in a property policy which states that the insured has been paid up to their insurable interest is - Valuation clause The part of the policy that states the amout of coverage the insured property policy period is - Declara...

Billing & Reimbursement Questions and Answers Already Passed What is the main purpose of medical billing? The main purpose of medical billing is to submit claims to insurance companies and ensure healthcare providers receive payment for their services. How does the reimbursement process begin in medical billing? The reimbursement process begins when a healthcare provider delivers a service and the details are documented, which are then translated into codes for billing purposes. ...

Abuse - Actions inconsistent with accepted, sound medical business or fiscal practice Accept Assignment - Provider accepts as payment in full whatever is paid on the cliam by the payer (except for any copayment and or coinsurance amounts.) Accounts Receivable - The amount owed to a business for services or goods provided. Accounts Receivable Aging Report - Shows the status (by date) of outstanding claims from each payer, as well as payments due from patients. Accounts Receivable Management -...

ICD-10-CM Questions and Answers Already Passed What edition of the Federal Register would hospital facilities be especially interested in? A. July B. November or December C. October D. January C. October What edition of the Federal Register would outpatient facilities be especially interested in? A. November or December B. October C. January D. July A. November or December What is the largest third-party payer? A. American government B. Department of Health and Human ...

Actual Cash Value - replacement cost - depreciation in property ins, usually based on the actual cash value of the property at the time of loss Additional Insured - a person or party who is added to the named insured's policy by an endorsement Advantages of Group Insurance - -may be less expensive -tax benefits to employees (costs are usually pre tax) -employer may pay all/part of premium -no evidence of insurability -may get insurance you wouldn't have normally bought Advantages of u...

H has suffered a covered disability away from her job and will shortly begin collecting benefits. The insurer sends a letter to H stating that she will not receive any benefit amounts greater than her income. This clause is known as: A: Over-insurance clause B: free look C: relation of earning to insurance D: relation of economic value - answer-C: relation of earning to insurance The insured should be aware of the issue date upon delivery a policy and the date should be listed on: A: the...

1. A financial counselor/Financial Assistance: In accordance with Section 501(r) regulations through the Affordable Care Act, a hospital must establish a written financial assistance policy and make it available to patients. 2. Batch Processing: Execution of a series of jobs in a computer program without manual intervention; it is used to help maximize the use of computer resources and stabilize response time by performing system-intensive work during hours when users are less likely to require...

401(k) plan - a. Must have taxable income b. Must be under age 72 c. Annual contributions to a 401K plan are income-tax deductible, investment income accumulates tax free, and distributions are taxed upon withdrawal d. Withdraw without penalty at age 59 ½ e. Certain hardship exceptions prior to age 59 ½ f. 2021 Maximum annual contribution- $19,500 g. 2021 over 50 catch up- $6,500 per year for a total of $26,000 h. Any employer match that you receive does not count toward this limit! a...

is a pre-determined amount that the patient pays before the insurer begins to pay for services - ANSWERdeductible a percentage of the insurance payment amount that is paid by the patient, along with the amount paid by the insurer. - ANSWERcoinsurance a flat amount that the patient pays at each time of service - ANSWERcopayment payment also includes amounts for services that are not included in the patient's benefit design and amounts for services balance billed by out-of-network provid...

401k plan - income-tax deductible, investment income accumulates tax free, distributions taxed upon withdrawal, and any employer match that is received does not count towards contribution limit additional insureds - person or party added to the policy by an endorsement (lenders and mortgagors) advantages of group insurance - may be less expensive, tax benefits to employees (costs are usually pre tax), employer may pay all/part of premium, no evidence of insurability-no physical exam, and m...