Risk Management & Insurance

5.02 I WILL UNDERSTAND RISK MANAGEMENT AND INSURANCE

Worker's Compensation

This provides protection for employees who are injured on the job or become ill because of job.

Health

Health insurance may be obtained through employer related groups. Types of health insurance coverage include hospital, surgical, reygular madical, comprehensive medical, dental, and vision care.

Hospital Insurance

This is classified as medical insurance and it covers for most or all of the charges during a stay in the hospital.

Surgical Insurance

This covers all or part of the surgeon's fees for an operation and health insurance coverage.

Regular Medical Insurance

This covers fees for nonsurgical care given in the doctor's office, the patient's home, or a hospital. Plus it covers cost of extended and specialized care out of the hospital such as medicine and special nursing care. This is a major medical insurance.

Comprehensive Medical Policy

This combines the features of hospital, surgical, regular, and major medical insurance. This is the most common group health insurance policy.

Dental Insurance

This contains deductible and coinsurance to reduce the cost of premiums and covers examinations, X-rays, cleaning, and filling. This also covers dental injuries resulting from accidents and part of complicated dental work such as crowns or bridges.

Vision Care Insurance

This covers eye examinations, prescription lenses, frames, and contact lenses. Some plans cover the cosr of laser eye surgery that eliminates the need for glasses.

Life Insurance

This protects survivors against financial loss associated with death.