COST ACCOUNTING
FINANCIAL TERMINOLOGY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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unmanaged care health insurance
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managed care health insurance
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Detailed explanation-1: -Health Maintenance Organization (HMO): A type of health insurance plan that usually limits coverage to care from doctors who work for or contract with the HMO. It generally won’t cover out-of-network care except in an emergency. An HMO may require you to live or work in its service area to be eligible for coverage.
Detailed explanation-2: -Subscribers of healthcare plans get to choose between Preferred Provider Organization (PPO) or Health Maintenance Organisation (HMO). In a PPO, medical services are provided to the subscribed on demand at a reduced rate, as agreed during subscribing it.
Detailed explanation-3: -Health Maintenance Organizations (HMO’s) traditionally provide services to its members at its own local health care facilities.