Match Each Term with the Correct Definition

question 6

Multiple Choice

Match each term with the correct definition.
-Health maintenance organization (HMO)

• A) Soon after the U.S. entered the World War II, this law was put into place to limit wages employers could providers their workers.
• B) The nation's public health insurance program serving people with low incomes and minimal assets. It was passed in 1965 as part of the Federal Social Security Act, and is funded through state and federal governments but managed at the state level.
• C) Trained and certified individuals who provide unbiased information about health coverage options. They assist with preparation of electronic and paper applications, establish eligibility, and get people enrolled with the best health insurance option.
• D) Insurance plan that provides a limited network of hospitals and clinics and medical professionals. When you are in the network, one important benefit is that your payments at the time of service are often affordable copayments, which typically range from $20 to $50.
• E) Program that was established under President Lyndon Johnson, and part of the Social Security Act of 1965. This program covers a portion of health care cost for Americans who are 65 years and older.
• F) In these systems, the government, rather than private insurance companies, coordinates all health care payments for its citizens.
• G) Insurance plan that provides a network of participating providers and allows members to see physician specialists directly without a referral from a primary care physician, as long as the specialist is within the preferred network.
• H) Similar to an HMO plan, where plan members designate an in-network primary care physician to be their care coordinator. However, there is limited coverage available for care that is received outside the provider network.
• I) The only comprehensive national health care plan ever passed in the United States.
• J) Plans in the Health Insurance Marketplace are presented in four categories. These categories are not based on any type of quality indicators, but rather how you and your plan share the costs of your health care.

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Definitions:

Labor Supply

The total hours that workers are willing and able to work at a given wage rate in a specific period.

Capital

Financial assets or their financial value, as well as the tangible factors of production that are used in creating goods or services.

Maximize Profit

The process of increasing one's financial gain to the highest possible level given the constraints of the market.

Productivity

The efficiency with which input resources are converted into output, often measured as the ratio of output to input over a specific period.