When a Coordination of Benefits Situation Exists,the Health Insurance Professional

question 15

Multiple Choice

When a coordination of benefits situation exists,the health insurance professional should first:

• A) disregard the primary payer.
• B) disregard the secondary payer.
• C) verify which payer is primary and which is secondary.
• D) submit two claims simultaneously.

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Definitions:

Cash Interest Payment

The actual cash paid by a borrower to a lender or bondholder as compensation for the use of borrowed money, usually at set intervals.

Bond Exchange

The process of trading bonds in the financial market, where investors buy and sell debt securities issued by entities like governments and corporations.

Market Rate of Interest

The prevailing rate of interest observed in the marketplace for loans and investments.

Trading

Buying and selling securities or commodities in financial markets, aiming for short-term profits.