Exam 11: Managing Health Expenses

Disability income policies can be written on ____ basis.

One cannot rely on worker's compensation to cover your health care needs because it

A healthcare subsidy lowers the amount you spend on your monthly premium or reduces out-of-pocket costs

Long-term care insurance that provides coverage if a lower number of activities of daily living are unperformable will cost less.

The greater your age when a disability income policy is purchased,the more you might need inflation protection.

Medicare Part B covers all of the following except

The amount paid for a medical service in a geographic area based on what providers in the area usually charge for the same or similar medical service is known as a/an

Most companies will not write disability income insurance policies for more than 60 to 80 percent of the insured's after-tax earnings.

Under the Affordable Care Act,all health care plans must cover ten essential benefits of adequate coverage and be labeled as a

Medicare is the only federal health care program currently in place.

Health care plan is a generic name for any program that pays for or provides reimbursement for direct health care expenditures.

A preferred provider organization is a group of health care providers who contract with a health insurance company to provide services at a discount.

An alternative name for traditional health insurance is a(n)

The claims procedures for nearly all health care plans include patient payment for the health service with the insurance reimbursing the patient after the appropriate forms are filed.

Long-term disability income insurance is probably the type of insurance most often overlooked by individuals and families

Managed care is a system designed to control the conditions under which health care can be obtained.

Kim was injured in a freak accident in her dorm room and had to spend several days in the hospital.Her covered medical costs totaled $14,000.How much will Kim's health insurance policy pay for this claim given the following policy information? $250 deductible per year 80/20 coinsurance $1,500 per year out-of-pocket coinsurance cap

Your health insurance requires that you pay $50 each time you visit the doctor's office and $15 for each prescription drug.This is an example of

Long-term custodial care is not covered by health insurance because the care is

A group of physicians and hospitals who have banded together to offer a health insurance contract in areas where there is no available HMO is called a