Exam 11: Managing Health Expenses

A living will is a written statement indicating that its signer does not wish extraordinary medical measures to be taken if he or she has no reasonable expectation of recovery from a desperate medical problem.

An HRA is a tax-deductible savings account into which individuals and/or their employers can deposit tax-sheltered funds for use to pay medical bills including the deductibles and other out-of-pocket costs required by a high-deductible plan.

The dollar-amount of benefits under a long-term care insurance plan is on a per-_____ basis.

When illness or injuries strike which of these issues may affect your finances?

As a result of federal legislation,persons who are no longer part of their group for medical insurance purposes because of being laid off or other reasons must be allowed to continue the group health insurance coverage

To make it possible for consumers to comply with the individual mandate to buy health insurance the Affordable Care Act established ______ run by their states or the federal government.

Medicaid pays for the costs of custodial nursing home care.

As a result of the health care reform Patient Protection and Affordable Health Care Act which of the following aspects of health care plans will no longer be allowed?

As a result of the health care reform Patient Protection and Affordable Health Care Act a child may stay on a parent's health care plan until age

Your out-of-pocket maximum is the largest amount of money you pay toward the cost of your healthcare each year.

You can help yourself afford a longer benefit period under a disability income insurance plan by selecting a longer

Your waiting period on disability income insurance can be ____ if you have some savings set aside as an emergency fund.

Traditional health insurance provides protection against direct medical expenses and,thus,does not cover

Which of the following government programs is jointly funded by federal and state governments?

A group health care plan is sold collectively to an entire group of persons rather than individuals.

Lance,a volunteer baseball coach,was hit by a hard line drive.As a result of the injury,Lance was taken to the emergency room for treatment and admitted to the hospital.Lance's covered expenses totaled $4,000.How much of the $4,000 will Lance have to pay if these are his first medical expenses of the year and he has the following health insurance coverage? $500 deductible per year 80/20 coinsurance $1,000 per year out-of-pocket coinsurance cap

Increasing the waiting period on a disability income policy from 30 to 90 days can significantly reduce the premium.

Most companies will not write disability income policies for more than ____ percent of one's after-tax earnings.

The monthly or annual cost of a health care plan is generally a(n)

Which of the following types of disability income insurance policies will only provide benefits if you can no longer perform the occupation you had at the time you became disabled?