Health Insurance Flashcards Preview

MCM: Cardio > Health Insurance > Flashcards

Flashcards in Health Insurance Deck (33):
1

FSA

flexible spending account

2

copay

amount you need to pay every time you see the doctor

3

co-insurance

amount of % you pay for a doctors visit

4

deductable

amount you will pay before insurance starts to pay

5

premium

monthly cost for having insurance

6

RAND study key findings

1. people have better hypertension care when paid for
2. cost share access health care necessarily and non necessarily less often (reduced health care utilization across the board)
3. poor and chronically ill had worse outcomes for cost sharing groups

7

FSA funded by

employer-owned but employee funded

8

FSA contibution limits

2,600 as of 2017

9

FSA covered expenses

IRS approved medical/vision/dental expenses for paticipants and qualified dependents

10

FSA plan requirements

high deductible health plan not required

11

FSA tax advantages

contributions are tax-free

12

FSA rollover or grace period

rollover of $500 or an extra 2.5 months

13

FSA investment

no investment option

14

FSA protability

no portability

15

HRA

health reimbursement arrangement

16

HRA funded by

employer owned and funded

17

HRA contribution limits

determined by employer

18

HRA covered expenses

employer-approved expenses for employees and qualified dependents

19

HRA plan requirement

high deductible health plan not required

20

HRA tax advantages

contribution are tax-free for the employer

21

HRA rollover or grace period

yes, if allowed by employer plan

22

HRA investment

no investment option

23

HRA portability

no portability

24

HSA

health savings account

25

HSA funded by

employee owned and funded (employers may also contribute)

26

HSA contribution limits

in 2017: individual-3,400 or family-6,750

27

HSA covered expenses

IRS-approved medical/vision/dental expenses for participant and qualified dependents

28

HSA plan requirements

high deductible health plan required

29

HSA tax advantages

-contributions are tax free
-withdrawals for qualified medical expenses are tax-free
-interest earned on the account balance is tax-free

30

HSA rollover or grace period

yes, funds rollover at he end of the plan year

31

HSA investment

ability to invest funds after meeting minimum threshold

32

HSA protability

yes, HSA stays with the account holder

33

3 key findings of study

1. In a large-scale, multiyear experiment, participants who paid for a share of their health care used fewer health services than a comparison group given free care.Cost sharing reduced the use of both highly effective and less effective services in roughly equal proportions.
2Cost sharing did not significantly affect the quality of care received by participants.
3. Cost sharing in general had no adverse effects on participant health, but there were exceptions: free care led to improvements in hypertension, dental health, vision, and selected serious symptoms. These improvements were concentrated among the sickest and poorest patients.