Different Types Of Medical Coverage
1) List and briefly explain the 8 types of medical coverage; Hospital coverage providing benefits for room and board and miscellaneous hospital expenses for a specified number of days during hospital confinement., Surgical Expense Insurance Policy providing benefits to pay for surgery., Physician Expense Insurance – sometimes called the regular medical expense insurance - is a form of health insurance that covers the expenses incurred on the services of a physician other than surgery., Major medical insurance is a type of health insurance which is designed to cover most major medical expenses, such as hospital care, prescriptions, surgery, and so forth., Comprehensive Major Medical - A plan of insurance with a low deductible, high maximum
benefits and a coinsurance feature., A hospital indemnity policy provides cash benefits to use as you see fit., Dental Insurance Coverage for dental services under a group or individual policy., Vision insurance plans by providing benefits for eye surgeries, specific eye diseases, and permanent visual impairment
2) List and briefly explain the 10 major provisions in a health insurance policy; Who is entitled to benefits under policy, when you assign benefits, internal limits will pay only a fixed amount, copayment is a type of cost sharing, service benefits are expressed in terms of entitlement to receive specified hospital or medical care, benefits limits defines the maximum benefits, exclusions and limitations specifies the condition or circumstances, coordination of benefits prevents you from collecting benefits from two or more groups, guaranteed renewable cannot cancel a policy unless you fail to pay premium when due, cancellation and termination explains the circumstance under which the insurance company can terminate your health insurance policy.
3) Outline at least 10 points you need to consider when choosing a long-term care policy; What services are covered, how much does the policy pay per day, is there 30 day free look, what does the policy cost, is there a waiver of premium provision, what is the age range for enrollment, is the policy guaranteed renewable, what does the policy require, how many days must wait benefits begin, how long must I wait before preexisting conditions are covered.
4) What are the tradeoffs to consider in selecting disability insurance? Waiting or elimination period, duration o benefits, amount of benefits, accident and sickness coverage, guaranteed renewability
benefits and a coinsurance feature., A hospital indemnity policy provides cash benefits to use as you see fit., Dental Insurance Coverage for dental services under a group or individual policy., Vision insurance plans by providing benefits for eye surgeries, specific eye diseases, and permanent visual impairment
2) List and briefly explain the 10 major provisions in a health insurance policy; Who is entitled to benefits under policy, when you assign benefits, internal limits will pay only a fixed amount, copayment is a type of cost sharing, service benefits are expressed in terms of entitlement to receive specified hospital or medical care, benefits limits defines the maximum benefits, exclusions and limitations specifies the condition or circumstances, coordination of benefits prevents you from collecting benefits from two or more groups, guaranteed renewable cannot cancel a policy unless you fail to pay premium when due, cancellation and termination explains the circumstance under which the insurance company can terminate your health insurance policy.
3) Outline at least 10 points you need to consider when choosing a long-term care policy; What services are covered, how much does the policy pay per day, is there 30 day free look, what does the policy cost, is there a waiver of premium provision, what is the age range for enrollment, is the policy guaranteed renewable, what does the policy require, how many days must wait benefits begin, how long must I wait before preexisting conditions are covered.
4) What are the tradeoffs to consider in selecting disability insurance? Waiting or elimination period, duration o benefits, amount of benefits, accident and sickness coverage, guaranteed renewability