Which of the following are deductible medical expenses? Select all that apply. O Nonprescription drugs (i.e., over the counter drugs) Vitamins and other health supplements A gym membership Visiting a dentist for a teeth clearning Prescription Drugs O Transportation and lodging related to medical care
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- When creating an Income Statement and calculating Net Patient Service Revenue, which of the accounts do you actually record as a line item on the Income Statement? O Discounts Charity Care Accounts Receivable Bad DebtIn accruing patient charges for the current month, which one of the following accounts should a hospital credit? Accounts Payable. Deferred Revenue. Public Support Revenue. O Patient Service Revenues. O Accounts Receivable. Question 31 4 pt Which of the following types of health care entities follow FASB Accounting Standards Codification for preparing financial statements? MacBook AirCourse Name: Principle of Healthcare Finance How does Medicare reimburse hospitals for inpatient stays?
- Course Name: Principle of Healthcare Finance How does Medicare reimburse physician services?Give typing answer with explanation and conclusion to all parts Though limited, which of the following does Medicare cover? a. assisted living facility care b. continuing care retirement community services c. adult day care services d. home health careWhich type of insurance is not deductible as self-employed health insurance? a. Long-term care insurance O b. Medical insurance Oc. Disability insurance Od. Dental insurance Oe. Spousal medical insurance
- A sub-capitation payment is a: a. fixed amount per month paid to a provider for only the care that an individual needs from that provider b. payment system that reimburses physicians based on the physician's work, practice expenses, and malpractice insurance expenses c. method of reimbursement whereby the health care provider is paid for individual services charged d. method of reimbursement for medical services whereby the provider accepts preestablished payments for providing care to patients for a certain period of time Which is a tax-deferred account used for qualified health care expenses in which unused funds roll over from year to year?Activities of daily living (ADLs) are important in determining _____ for long-term-care insurance. Group of answer choices a. type of care b. services covered c. the waiting period d. eligibility e. benefit durationWhat amount can she deduct for eligible medical and dentals expenses
- Students may wish to refer to the chapters on the introduction to the revenue cycle and patient encounter and billing information in this workbook for a review of math for the following problems. Dr. Augustino is a Medicare participating provider. Dr. Brunner is a Medicare nonparticipating provider who accepts assignment. Dr. Charles is a Medicare nonparticipating provider who does not accept the assignment. The following table shows the fees each doctor charges as well as the Medicare Fee. Dr. A Dr. B Dr. C Medicare 99201 OV New 45.00 42.50 48.00 36.00 99204 OV New 60.00 57.50 65.00 48.25 99212 OV Established 40.00 38.00 45.00 32.00 99213 OV Established 45.00 40.00 48.00 35.75 71046 Chest X-ray 165.00 162.50 174,00 73.25 36415 Venipuncture 17.00 12.00 20.00 8.00 Audrey Appel who is covered by Medicare, as well as a Medigap policy, is a new patient of Dr. Augustino. She is seen in the office for…An important distinction in health insurance is between the list price (PL) and out-of-pocket price (PP) of a medical good or service. The list price is the official price that the provider charges the insurance company, while the out-of-pocket price is the price that the insurance customer faces. Sometimes, the out-of-pocket price depends on the list price. Now assume the consumer is part of a partial insurance plan with a coinsurance provision. Her insurance pays 50% of all medical expenses. Consider again the relationship between PL and PP and plot a coinsurance plan demand curve in PL - Q space. Label this curve D3. Finally, assume the consumer is part of a partial insurance plan with a copayment provision. Her insurance pays all expenses above and beyond her copayment of $25 for each unit of Q. Consider again the relationship between PL and PP and plot a copayment-plan demand curve in PL - Q space. Label this curve D4.You need what type of license to sell Health insurance? OP & C Security Life Health and Life