Answered: eived. a. amount charged

Business

Accounting

eived. a. amount charged

Pfin (with Mindtap, 1 Term Printed Access Card) (mindtap Course List)

7th Edition

ISBN:9780357033609

Author:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk

Publisher:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk

Chapter9: Insuring Your Health

Section: Chapter Questions

Problem 4LO

See similar textbooks

Related questions

Q: The claims will be paid in this order: (Select the best response.) O A. 1. The sofa deposit of $390;…

A: Information Provided: Health care benefits = $480 Sofa deposit = $390 Unfunded pension plan = $330

Q: When a life insurance policy lapses, it: a. benefits the insured b. benefits neither the insurer nor…

A: When insured person fails to pay the premium on insurance than it is said that policy has lapsed and…

Q: Group of answer choices a. type of care

A: Grooming/personal hygiene, clothing, toileting/continence, transferring/ambulating, and eating are…

Q: How does Medicare reimburse physician services?

A: Reimbursement is the process of paying back someone the expenses that they have incurred initially.…

Q: 4a Describe the resource-based relative value scale payment method used by Medicare to reimburse…

A: The Centers for Medicare & Medicaid Services (CMS) and the majority of other payers implement…

Q: What type of private insurance increases the subscriber’s choice of provider and improves access to…

A: Insurance - It is contract between an insured person and insurance company upon an unforeseen event,…

Q: The contract between insured and insurer is O a. Coverage O b. Face value Oc. Policy O d. Premium

A: Insurance means where insurance company agree to pay the specified amount to insured person in case…

Q: Which of the following stalements is required by Long- Term care insurers when referring lo…

A: The answer for the multiple choice question and relevant explanation are presented hereunder : What…

Q: 59. What is a contractual adjustment? a. An adjusting entry made at year-end to accrue unpaid…

A: A Contractual Adjustment is a part of a patient's bill that hospital must write-off (not charge for)…

Q: Differentiate between “Compensatory contract” and “Non-Compensatory contract”. Does the concept of…

A: “Since you have asked multiple questions, we will solve the one question for you. If you want any…

Q: QUESTION 14 What information is contained in the insuring agreement of an insurance policy? O a…

A: "Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: Type of long-term care policies Triggers to become eligible for benefits Exclusions

A: Point to be Noted:- Since you have asked questions with multiple sub parts. I will be answering…

Q: The policy holder who receives the coverage is called ________________. a. Premium b. Face value c.…

A: There are various terminology used in insurance business

Q: Which of the following sections of a commercial general liability policy contains information about…

A: Commercial General Liability (CGL) policy: You can safeguard your firm from financial ruin with a…

Q: 1. The significant risk that is transferred from the policyholder to the issuer of an insurance…

A: ‘’Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: An insurance refers to a signed agreement between the insured and the insurer. a. Security b.…

A: In Insurance there are two parties, Insurer and Insured

Q: The policy holder who receives the coverage is called O a. Premium O b. Insured O. Face value O d.…

A: Insurance is a term used for the security provided in monetary terms by an insurance company to a…

Q: In a Commercial General Liability policy, reasonable first aid expenses are paid regardless of fault…

A: Commercial general liability policy insures or protects the business against any unwanted damage to…

Q: Which of the following is a demographic assumption for purposes of applying PAS 19? A. Future…

A: The acronym PAS stands for Philippines Accounting Standard. PAS 10 applies to all the employees of…

Q: Briefly explain the following characteristics of long-term care insurance. Protection against…

A: In long-term care insurance plans there are many approaches to obtain inflation insurance cover. The…

Q: 1. What is the difference between co-pay and coinsurance? a. They mean the same thing and used by…

A: 1. Difference between co-pay and coinsurance To know the difference between copay and…

Q: An insurance refers to a signed agreement between the insured and the insurer. O a. Certificate O b.…

A: Insurance policies are beneficial to people as it provides cover against uncertainties, significant…

Q: when reinstating a policy an insured must provide the insurer with which of the following: A.…

A: Reinstating or renew of a policy can be done within 30 days of lapse of a policy without any…

Q: What is a contractual adjustment? How does a health care organization account for a contractual…

Q: Insuring clause in an Accident & Health policy states which of the following information? A. The…

A: There are different clause in the insurance policy that what is covered and what is not covered and…

Q: 5. Which of the following actions showcases the principle of "uberrima fides"? O A. Lying about…

A: Uberrima fides is a Latin word which means "utmost good faith".

Q: Question 4: Of the cafeteria plans listed, which is NOT a voluntary nontaxable deduction? Answer: А.…

A: In this question we choose that which one is nontaxable deduction.There are four options medicare,…

Q: he consideration paid by insured in a contract of in - premium C. prepaid insurance insurance…

A: The insurance companies do different kind of insurance for the companies depending on the risk and…

Q: Supplemental coverage for homeowner&#39;s insurance is available through endorsements. Which one…

A: Supplemental coverage for homeowner's insurance is available through endorsements. These are the…

Q: Entity A obtains life insurance for its key employee from Entity B (an insurance company). Entity B…

A: Account for Insurance Contract Here the actual facts which was incurred was Entity A can obtain life…

Q: What type of private insurance increases the subscriber’s choice of provider and improves access to…

A: Insurance - It is contract between an insured person and insurance company upon an unforeseen event,…

Q: S1: The straight-line method computes the unearned premiums, policy by policy, on a pro-rata basis…

A: In accordance with PFRS 17, The straight-line method computes the unearned premiums, policy by…

Q: 19. is the document that acknowledge the insured legally entitled to receive the payment from the…

A: Insurance is a financial mechanism that protects an insured asset from various risks. There are many…

Q: One of the purposes that deductible are used in insurance policies is to O eliminate coverage for…

A: In insurance, deductibles are expenses that a person has to bear by him/herself before the benefits…

Q: Which of the following items is required by the Life Insurance and Annuity Replacement Rule? A. A…

A: The answer is stated below:

Q: Compare and contrast the early historical accounting for postretirement health care and life…

A: Historical cost accounting is an important technique that records assets on a statement of financial…

Q: 8. What is the difference between a copay and coinsurance? a. Copay is typically a percentage of the…

A: Health insurance is an agreement between insurer and insured where insurer is liable to pay for…

Q: he contract between insured and insurer is ______________. a. Coverage b. Premium c. Policy d. Face…

A: Insurance means where insurance company agree to pay the specified amount to insured person in case…

Q: Identify the differences between pensions and postretirement healthcare benefits.

A: Both pension funds and post retirement healthcare benefits accrue to an employee after his/her…

Q: Which of he following stalements is CORRECT about benefits provided by a Basic Hospital and Surgical…

A: The answer for the multiple choice question and relevant explanation are presented hereunder : What…

Q: Examples of health insurance offsets include all of the following, EXCEPT: a) Co-pays b)…

A: The question is based on the concept of health insurance and cover under the health policy.

Question

Traditional indemnity policies reimburse the insured based on the [amount charged | usual, customary, and reasonable (UCR) charges] for the medical services received.

a. amount charged

b. usual, customary, and resonable (UCR) charges

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.

Similar questions

Explain the differences between a collision deductible and a health insurance deductible. In health insurance how does coinsurance differ from a deductible?
The contract between insured and insurer is ______________. a. Coverage b. Premium c. Policy d. Face value
Which of the following items is required by the Life Insurance and Annuity Replacement Rule? A. A Notice Regarding Replacement of Life Insurance or Annuity B.A Notice Regarding Insurance Producer Compensation Schedule C.A Statement of Ethical Practices D. A Comparative Information form
Examples of health insurance offsets include all of the following, EXCEPT: a) Co-pays b) Deductibles c) Co-insurance d) Preventive programs
Which type of insurance is not deductible as self-employed health insurance? a. Long-term care insurance O b. Medical insurance Oc. Disability insurance Od. Dental insurance Oe. Spousal medical insurance
What does the insurer agree to pay for in addition to covering losses in an insurance policy? Services such as investigating claims and defending the insured The entire policy limit Premium costs for the policy period Only losses below the deductible
Briefly explain the following characteristics of long-term care insurance. Type of long-term care policies Triggers to become eligible for benefits Exclusions Protection against inflation
Explain the differences between a collision deductible and a health insurance deductible.
Is recover compensation within? compensation Income option from insurance operations transfer expenses Option of sources of insurance operations
C. renewal notice O D. completing notes 19. is the document that acknowledge the insured legally entitled to receive the payment from the policy. * O A. Discharge notes B. Completion notes O C. Claim form O D. Policy form 20. The written insurance document that may include all clauses, exception and
One of the purposes that deductible are used in insurance policies is to O eliminate coverage for small claims. O place restrictions or limits on the insurer's promise to perform. provide broader coverage by increasing the number of perils covered. exclude perils that are not insurable.
Define each of the given and describe the different EXCLUSIONS FROM GROSS INCOME: Proceeds of life insurance policy Amount received by the insured as a return of premium Gift, bequest, or descent Compensation for injuries or sickness Income exempt under treaty Retirement benefits, pensions, gratuities, etc.