Match Each Health Insurance Term with Its Definition

question 42

Multiple Choice

Match each health insurance term with its definition.
-Term for an insurance company that reimburses for health care services

• A)advance beneficiary notice (ABN)
• B)carrier
• C)coordination of benefits (COB)
• D)fee disclosure
• E)fee schedule
• F)loss-of-income benefits
• G)participating provider
• H)patient status
• I)relative value units
• J)third-party payer

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Definitions:

Deferral Method

A method of accounting that allows for income or expenses to be recognized at a later date rather than when they are initially incurred.

Donated Land

This informs the recording of land gifted to an entity, valued at its fair market value at the time of donation as an asset on the balance sheet.

Donated Machinery

Assets received for free by an entity, where the fair market value of the machinery is recorded as both income and an asset on the balance sheet.

Volunteer Hours

The amount of time individuals spend performing unpaid services for nonprofit organizations or community projects.