1.) Define the following terms: insurance premium, co-payment, HMO, MLR, Medicare, Medicaid, pre-existing condition, community rating rule, guaranteed issue rule. You may use the Internet but rephrase in your own words rather than copy-paste. Insurance premium: A health premium can be defined as a monthly fee paid to an insurance company to provide health coverage. This premium covers things as small as routine doctor visits to more serious hospitalizations. While the individual insured can make…
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