Exam 11: Managing Health Expenses

The benefit period in a disability income policy is the minimum period of time for which benefits will be paid

A guaranteed renewability clause that also is noncancelable will make sure that the insurer will not drop you should your health decline

A ____ does not take effect until a specified event occurs,usually physical or mental incapacitation.

If one is covered by workers' compensation,he or she probably does not need additional health insurance coverage.

A residual clause will allow a reduced level of disability income benefits when partial,rather than full,disability strikes.

A utilization review is where representatives of the insurer review the records of treatments provided to verify that they are appropriate for the condition being treated

Both Medicare Part A and Part B pay 100 percent of covered expenses

You might want to seek out disability income policies with a cost-of-living clause,which will increase your benefit amount to keep up with inflation.

A legal document that directs life support measures,such as a respirator,to be removed is called a

ACOs generally operate as a fee-for-service organization.

____ is a long-term care provision that is especially important for a relatively young person purchasing this type of insurance.

Long-term care insurance policies can be written to cover in-home care.

The health benefits provided under Medicaid differ from state to state.

Choosing your Medicare plan through a private company that combines Medicare Parts A and B into one plan called a Medicare Advantage plan can broaden health care benefits.

Lyle's health care plan will pay 75 percent of all covered expenses over the first $500 per year.This policy contains

Health care plans for Medicare eligible people that are purchased through a private company and provide both Medicare Parts A and B coverage are called.

Under the Affordable Care Act,all health care plans must include

Medicare (Part B) requires a monthly premium for coverage.

The United States spends a higher percentage of its gross domestic product than any other country

A ____ power of attorney takes effect when a incapacitating medical condition occurs.