What is medical insurance quizlet?
medical insurance. a financial plan that covers the cost of hospital and medical care due to illness or injury. medically necessary. payment criterion of payers that requires medical treatments to be appropriate and provided in accordance with generally accepted standards of medical practice.
What is the main purpose of health insurance quizlet?
The purpose of health insurance is to protect an insured against the risk of financial loss he/she cannot individually afford caused by illness, injury or disability.
How does health insurance work quizlet?
A type of insurance coverage that pays for medical and surgical expenses that are incurred by the insured. Health insurance can either reimburse the insured for expenses incurred from illness or injury or pay the care provider directly.
How would you define health insurance?
Health insurance – also referred to as medical insurance or healthcare insurance – refers to insurance that covers a portion of the cost of a policyholder's medical costs.