Exam 16: Medical Expense and Disability Insurance

Your personal health insurance policy provides the following coverage: For all covered medical bills,you must pay a $100 annual aggregate deductible After meeting that deductible,you must share in all additional expenses on a 90/10 basis In any one year,your out-of-pocket maximum expenditure will not exceed $1,000 In 2009 you fall and crack your skull. The covered medical bills you incur total $7,100. How much will you have to pay for this loss,and how much will the insurer pay?

In 2004 the U.S.spent _______ on health care.

The term "HMO" means:

Distinguish between a guaranteed renewable and a noncancellable health insurance contract.

JoEllen has a major medical policy with a $500,000 lifetime aggregate limit,a $1,000 annual deductible and 80% coinsurance.Her health losses for the year include the following: hospital bills of $42,000;surgeon's fees of $14,000,prescription medication expenses of $5,000. How much will JoEllen's insurance pay for this loss?

Which statement is false?

A common exclusion in health insurance policies is any preexisting condition.

HMOs are health insurers specializing in cancer insurance.

Blue Cross is

Granny Clampett's health insurance policy has a $500 annual aggregate deductible,and 80/20 cost sharing deductible,and a $5,000 maximum annual out-of-pocket cap of $5,000. She wrecks her Harley and breaks her hip,and her total medical bills for the injury are $122,721. How much will her insurer pay for this claim?

The strictest definition of "disability" used in disability insurance products is the:

Which one of the following is not a reason for the increase in U.S.health care costs?

Which of the following is not a type of health insurance coverage?

Critics of HMO's say that:

Which of these health insurers normally rewards its doctors through profit sharing?

Disability income insurance generally requires an elimination or waiting period before benefits begin.

The preexisting condition clause in health insurance:

Criticisms of the American health care system include all of the following except:

Which of the following is NOT typically included in a major medical insurance policy?

Which is the most desirable type of health insurance renewability feature?