Exam 9: Insuring Your Health

If you are trying to keep your disability income premiums reasonably priced but still appropriate for insuring your financial needs,select a short elimination period and a short duration of benefits.

INSTRUCTIONS: Choose the word or phrase in [ ] which will correctly complete the statement.Select A for the first item,B for the second item,and C if neither item will correctly complete the statement. -Advances in medical technology,prescriptions drugs and treatments have substantially reduced the costs health care in recent decades.

Major medical plans will usually cover the cost of nursing home care.

INSTRUCTIONS: Choose the word or phrase in [ ] which will correctly complete the statement.Select A for the first item,B for the second item,and C if neither item will correctly complete the statement. -Qualifying for social security disability benefits is fairly [simple | difficult].

A deductible clause in major medical insurance plans is most often on a per year basis.

As soon as one graduates from college,he will generally become ineligible to be covered by your parents' health insurance.

INSTRUCTIONS: Choose the word or phrase in [ ] which will correctly complete the statement.Select A for the first item,B for the second item,and C if neither item will correctly complete the statement. -The amount of health insurance reimbursement actually paid may be reduced by [internal limits | co-payment caps].

Most people do not need protection against

A comprehensive major medical insurance would not

Surgical expenses now generally are reimbursed on the basis of

Which of the following is(are)characteristic of Social Security disability income benefits?

Terms of payment and terms of coverage are two sets of provisions that should be carefully scrutinized when evaluating an insurance program.

Activities of daily living (ADLs)are important in determining ____ for long-term care insurance.

INSTRUCTIONS: Choose the word or phrase in [ ] which will correctly complete the statement.Select A for the first item,B for the second item,and C if neither item will correctly complete the statement. -[Medicare | Medicaid] makes health care payments available for anyone over age 65.

Workers compensation may trigger coverage in a disability income policy.

INSTRUCTIONS: Choose the word or phrase in [ ] which will correctly complete the statement.Select A for the first item,B for the second item,and C if neither item will correctly complete the statement. -Traditional indemnity policies reimburse the insured based on the [amount charged | usual,customary,and reasonable charges] for the medical services received.

INSTRUCTIONS: Choose the word or phrase in [ ] which will correctly complete the statement.Select A for the first item,B for the second item,and C if neither item will correctly complete the statement. -Long-term health care [does | does not] have a deductible.

Living a healthy lifestyle is an example of loss prevention and control.

The "O" in COBRA stands for which of the following words?

Nick has a comprehensive health care policy with a $250 per calendar year deductible and 80%-20% with a maximum $1,000 copayment cap per calendar year.In January,Nick had a $600 claim which the insurance company paid $280.Nick experiences another unrelated claim in October resulting in total bills of $5,000.How much will Nick have to pay for the second claim?