1. Describe/define the following terms & concepts:

• Premium
• Deductible
• Copayment (Co-Insurance)
• Capitation
• Fee for Service (FFS)
• Value-Based Care
• Out of Pocket Costs
• Late enrollment penalty
• Beneficiary
• Medicare Advantage
• Medicare Part D Coverage Gap ("Donut Hole")
• Federal Poverty Level
• Medicaid Coordinated Care Organization (CCO)
• Health Maintenance Organization (HMO)
• Preferred Provider Organization (PPO)
• High-Deductible Health Plan (HDHP)