Arkansas Health Insurance Exam. 221 Questions With 100% Correct Answers 2024.
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Course
Arkansas Health Insurance
Institution
Arkansas Health Insurance
Arkansas Health Insurance Exam. 221 Questions With 100% Correct Answers 2024.
Accident
An unplanned, unforeseen event which occurs suddenly and at an unspecified place.
Accident Insurance
A type of insurance that protects the insured against loss due to accidental bodily injury.
Accidental B...
Arkansas Health Insurance Exam. 221
Questions With 100% Correct Answers 2024.
Accident
An unplanned, unforeseen event which occurs suddenly and at an unspecified place.
Accident Insurance
A type of insurance that protects the insured against loss due to accidental bodily injury.
Accidental Bodily Injury
Unplanned, unforeseen traumatic injury to the body.
Accidental Death and Dismemberment
An insurance policy which pays a specified amount or a specified multiple of the insured's benefit if the
insured dies, loses his or her sight, or loses two limbs due to an accident.
Accidental Death Benefits
A policy rider that states that the cause of death will be analyzed to determine if it complies
with the policy description of accidental death.
Acquired Immunodeficiency Syndrome (AIDS)
An infectious and incurable disease caused by the human
immunodeficiency virus (HIV).
Activities of Daily Living
Activities individuals must do every day such as moving about, getting dressed, eating, bathing, etc.
Actual Charge
The amount a physician or supplier actually bills for a particular service or supply.
Adhesion
A contract offered on a "take-it-or-leave-it" basis by an insurer, in which the insured's only option is to
accept or reject the contract. Any ambiguities in the contract will be settled in favor of the insured.
Admitted (Authorized) Insurer
An insurance company authorized and licensed to transact insurance in a particular state.
Adult Day Care
A program for impaired adults that attempts to meet their health, social, and functional needs in a
setting away from their homes.
,Adverse Selection
The tendency of risks with higher probability of loss to purchase and maintain insurance more
often than the risks who present lower probability.
Agent
An individual who is licensed to sell, negotiate, or effect insurance contracts on behalf of an insurer.
Aleatory
A contract in which participating parties exchange unequal amounts. Insurance contracts are aleatory in
that the amount the insured will pay in premiums is unequal to the amount the insurer will pay in the
event of a loss.
Alien Insurer
An insurance company that is incorporated outside the United States.
Alzheimer's Disease
A disease that causes the victim to become dysfunctional due to degeneration of brain cells and severe
memory loss.
Ancillary
Additional, miscellaneous services provided by a hospital, such as x-rays, anesthesia, and lab work, but
not hospital room and board.
Apparent Authority
The appearance or the assumption of authority based on the actions, words, or deeds of the
principal or because of circumstances the principal created.
Approved Amount
The amount Medicare determines to be reasonable for a service that is covered under Part B of
Medicare.
Assignment
A claim to a provider or medical supplier to receive payments directly from Medicare.
Attained Age
The age of the insured at a determined date.
Attending Physician's Statement (APS)
A statement usually obtained from the applicant's doctor.
Avoidance
, A method of dealing with risk (e.g. if a person wanted to avoid the risk of being killed in an airplane
crash,
he/she might choose never to fly in a plane).
Basic Hospital Expense Insurance
Coverage that provides benefits for room, board and miscellaneous hospital expenses for a certain
number of days during a hospital stay.
Basic Medical Expense Insurance
Coverage for doctor visits, x-rays, lab tests, and emergency room visits; benefits, however, are limited to
specified dollar amounts.
Beneficiary
The person who receives the proceeds from the policy when the insured dies.
Benefit period
The length of time over which the insurance benefits will be paid for each illness, disability or hospital
stay.
Birthday rule
The method of determining primary coverage for a dependent child, under which the plan of the
parent whose birthday occurs first in the calendar year is designated as primary.
Blanket Medical Insurance
A policy that provides benefits for all medical costs, including doctor visits, hospitalization, and drugs.
Boycott
An unfair trade practice in which one person refuses to do business with another until he or she agrees
to certain conditions.
Buyer's Guide
A booklet that describes insurance policies and concepts, and provides general information to help an
applicant make an informed decision.
Cafeteria Plan
A selection of health care benefits from which an employee may choose the ones that he/she needs.
Capital Amount
A percentage of the principal amount of a policy paid to the insured if he/she suffered the loss of an
appendage.
Carriers
Organizations that process claims and pay benefits in an insurance policy.
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