Estimate the Answer by Picking the Best Choice Without Calculating

question 64

Multiple Choice

Estimate the answer by picking the best choice without calculating. If I do not pay off my credit card balance each month, the most important cost factor is __________.

• A) the annual fee
• B) the APR

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Definitions:

Original Medicare

A federal health insurance program in the United States for people who are 65 or older, certain younger people with disabilities, and people with End-Stage Renal Disease, consisting of Part A (hospital insurance) and Part B (medical insurance).

Approved Charges

The amounts pre-determined by insurance providers as the maximum they will pay for a covered service or procedure.

X12 837

A standard format for electronically transmitting healthcare claim information from healthcare providers to payers, such as insurance companies.

Electronic Claim

A request for payment for healthcare services that is submitted electronically to a health insurance provider.