Understanding Health Insurance: Terms and Definitions, Quizzes of Introduction to Business Management

Download Understanding Health Insurance: Terms and Definitions and more Quizzes Introduction to Business Management in PDF only on Docsity! TERM 1 Cntributions DEFINITION 1 payments made for benefit coverage -may come from tge employer, employee, or both TERM 2 Coinsurance DEFINITION 2 payments made to cover health care expenses that are split between the employer's insurance company and the insured employee TERM 3 Copayment DEFINITION 3 a small payment made by the employee for each office visit to a physician under a health plan (or for medication) TERM 4 Deductible DEFINITION 4 an annual out-of-pocket expenditure that an insurance policyholder must make before the insurance plan makes any reimbursements TERM 5 Flexible or Cafeteria Benefits Program DEFINITION 5 a benefits program that allows employees to select the benefits that they need most from a menu of choices