This Type of Plan Combines Features of HMOs and PPOs

question 68

Multiple Choice

This type of plan combines features of HMOs and PPOs. It uses a network of participating physicians and medical professionals who have contracted to provide services for certain fees.

• A) Home health care agency
• B) Hospital and medical service plan
• C) Medicare
• D) Point-of-service (POS) plan
• E) Public insurance company

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Definitions:

Demand Function

A mathematical equation that describes the relationship between the quantity of a good demanded and its price, along with other factors like income and price of related goods.

Consumer's Surplus

The difference between the total amount that consumers are willing and able to pay for a good or service and the total amount that they actually do pay.

Mead

A fermented beverage made from honey, water, and sometimes various fruits, spices, grains, or hops.

Utility Function

A mathematical representation in economics that shows the relationship between the total utility derived from consuming a good or service and its quantity.