ECONOMICS
INSURANCE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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medical coverage only for hospital care in the emergency room
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a specific number of coupons to be used when medical treatment is necessary
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medical treatment of a specified co-payment
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a bill 100% of the cost to visit a doctor or medical office
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Detailed explanation-1: -Managed-care plans are health insurance policies using which policyholders can avail healthcare facilities at reduced costs. These plans offer comprehensive coverage, including preventive care and routine check-ups for a fixed premium.
Detailed explanation-2: -A health maintenance organization (HMO) is a network or organization that provides health insurance coverage for a monthly or annual fee. An HMO is made up of a group of medical insurance providers that limit coverage to medical care provided through doctors and other providers who are under contract with the HMO.
Detailed explanation-3: -HMOs require that patients choose their primary care physicians, and can only use specialists and services that are referred by the primary care physician based on approval of the HMO. With HMOs, premiums are generally lower than other plans. Patients pay a standard co-pay for office visits and services.
Detailed explanation-4: -Exclusive Provider Organization – The EPO plans are seen by many as a hybrid of HMO and PPO. While they charge lower premiums and provide medical care to the insured in a larger network of hospitals, they, unlike HMO do not require the referral from Primary Care Physicians to avail treatment from EPO hospitals.