TERM 1
What is a premium?
DEFINITION 1
A periodic payment the insured is required to make to keep a
policy in effect
TERM 2
What is a coinsurance?
DEFINITION 2
the percentage of each claim that the insured pays
TERM 3
What is a deductible?
DEFINITION 3
the amount that the insured pays on covered services before
benefits begin
TERM 4
What type of external audit is conducted
before claims are processed?
DEFINITION 4
prepayment
TERM 5
What is another name for POS?
DEFINITION 5
another name for point-of-service is open HMO
