Exam 9: Insuring Your Health

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. -Premiums for Workers Compensation are paid by the [employees | employers].

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. -Millions of Americans are not covered by health insurance.

Ben's health coverage charges a low ($15)deductible each time he visits the doctor or hospital.Other than the low per-service deductible,there is very little cost sharing.However,Ben must go to the health care providers listed by the provider of the health coverage.If he goes to a provider that is not on the list,there is very little coverage.Which of the following types of entity most likely provides Abe's health coverage?

Increasing the deductible is likely to lower the premium on a comprehensive major medical 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. -You would be more likely to receive [70 | 90] percent of your pre-disability income from 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. -If you are laid off,your health insurance [can be continued at the employer's option | must be continued if you pay the premiums].

An Individual Practice Association differs from a HMO in that

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. -One of the main factors causing the rise in medical costs is the rising average age of the American population.

Your health insurance has an 80% co-insurance clause.Once the deductible is satisfied,your insurance company will pay 80% of your covered losses up to the stated limits.

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 ["own occupation" | "any occupation"] definition of disability is more restrictive.

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. -Workers Compensation would make payments to an injured worker [if he had been hurt on the job | only if he could prove negligence on the part of his employer].

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. -One difference between health maintenance organizations (HMOs)and individual practice associations (IPAs)is that [HMOs cost much less | IPAs do not provide services from a central location].

Disability occurs only when someone is completely incapable of returning to work.

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. -Blue Cross provides hospital coverage and Blue Shield provides prescription pharmacy coverage.

One drawback of long-term care insurance is its

The largest portion of health care costs pay for

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 | Workers' compensation] pays for medical expenses that are the result of on-the-job injuries and illnesses.

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. -Medicaid will pay long term benefits [for anyone | only for those over age 70] confined to a nursing home.

Suppose a person has a health insurance policy with a $500 calendar year deductible,a $2,000 out-of-pocket cap,and an 80% coinsurance provision.If this person suffers a $600 covered loss,how much will the insurance company pay? (Assume no previous losses have occurred. )

All of the following except a ____ are highly recommended for a long-term disability income policy.