Match Each Health Insurance Term with Its Definition

question 2

Multiple Choice

Match each health insurance term with its definition.
-Date when an insurance policy goes into effect

• A)assignment of benefits
• B)TRICARE
• C)CHAMPVA
• D)coordination of benefits (COB)
• E)co-payment
• F)deductible
• G)effective date
• H)capitation
• I)group insurance
• J)health maintenance organization (HMO)

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Definitions:

Raw Material

Basic materials used in the production process of goods, often processed in intermediate steps before fabrication of the final product.

Fixed Overhead

Charges that keep the same level despite the degree of manufacturing or sales activities, including space rental, worker wages, and protection plans.

Predetermined Overhead Rate

An estimated overhead cost rate used in cost accounting to allocate overhead expenses to products or job orders.

Direct Labor Costs

Compensation and perks given to workers directly engaged in creating products or services.