Match Each Health Insurance Term with Its Definition

question 63

Multiple Choice

Match each health insurance term with its definition.
-A form of insurance providing wage replacement and medical benefits to employees who are injured on the job or who have developed work-related disorders,disabilities,or illnesses

• A)managed care
• B)Medicaid
• C)precertification
• D)preexisting condition
• E)service area
• F)subscriber
• G)individual insurance
• H)indemnity plan
• I)utilization management (review)
• J)workers' compensation

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Definitions:

Absorption Costing

An accounting method that includes all direct and indirect manufacturing costs in the cost of a product.

Operating Income

A measure of a company's profitability, excluding non-operating expenses such as interest and taxes, and non-operating income.

Finished Goods Inventory

This is the account that contains the cost of finished goods that are ready to be sold but are still in stock.

Absorption Costing

Absorption Costing is a method of inventory costing that includes all manufacturing costs - direct materials, direct labor, and both variable and fixed manufacturing overhead - in the cost of a product.