Comprehensive major medical insurance is a type of major medical insurance that has a very high deductible amount. A hospital indemnity policy pays benefits only when you are not hospitalized. The hospital indemnity policy is a good substitute for basic or major medical protection.
What types of coverage are provided by Blue Cross and Blue Shield quizlet?
Blue Cross and Blue Shield coverage for the following services; hospitalization, diagnostic laboratory services, x-rays, surgical fees, assistant surgeon fees, obstetric care, intensive care, newborn care, and chemotherapy for cancer.
Why is disability income insurance important in personal financial planning?
The bottom line: A disabling illness or injury stops income, imposes additional costs, and prevents building a retirement nest egg. Disability insurance replaces lost income when an individual is unable to work because of an accident or illness.
Which of the following plans allows employees to receive health care catered to their unique needs?
Employers with few employees, usually less than 25 or 50 depending on state law, can establish a small employer health plan. This allows employees to pay for and receive health care coverage catered to their unique needs. Cafeteria plans are best utilized for larger employers, since they are more costly to operate.
How does health insurance protect you from injury?
Health insurance protects from the financial burden as a result of illness or injury. 2. (p. 288) All group health insurance plans provide the same level of protection. Group plans vary in the amount of protection they provide.
Which is greater financial problems caused by death or disability?
304-305) The financial problems caused by death are greater than those caused by disability. FALSE Disabled persons lose their earning power but still have to meet living expenses. In addition, they often need to cover medical treatment and special care for their disabilities. 26.
What is the purpose of false health insurance?
288) Health insurance is a form of protection that eases the financial burden people may experience as a result of someone’s death. FALSE Health insurance protects from the financial burden as a result of illness or injury. 2.
What do you call a health insurance policy that pays you back?
295) A health insurance policy that pays you back for actual expenses is called a reimbursement policy. TRUE 12. (p. 296) Some policies consider the average fee for a service in a particular geographical area then use that amount to set a minimum payment for policyholders.
