Exam 9: Health and Disability Insurance

Jacob is concerned that his out-of-pocket health care expenses will be quite high, so he is considering adding contributions to a tax-free account that he can use with his high-deductible policy to cover catastrophic expenses. What kind of plan does he have?

The Health Insurance and the Patient Protection and Affordable Care Act of 2010 requires health insurance companies to submit justification for all requested premium increases.

Medicare is offered to certain low-income individuals and families.

Some policies consider the average fee for a service in a particular geographical area. They then use that amount to set a minimum payment for policyholders.

The period before you can receive benefits in a disability plan is called the probationary period.

Workers are considered disabled if they have a physical or mental condition that prevents them from working and that is expected to last for at least 12 months or to result in death.

What is the primary purpose of medical expense insurance?

Fran is interested in purchasing a major medical policy that limits the total out-of-pocket amount that she will have to pay. She should consider a

A PPO is another name for an HMO.

Rising health costs are due to all of the following except

Jack needs comprehensive medical coverage. However, his income is very low. What plan should he investigate?

Medicare (Part A) covers

Health care costs have decreased because of aging baby boomers using fewer health care services.

If you or any of your dependents do not have minimum essential coverage and you do not have an exemption, then you will have to make an individual shared responsibility payment on your tax return equal to $95 per adult and $47.50 per child in your family (up to a maximum of $500 per family).

The financial problems caused by death are greater than those caused by disability.

Which of the following is NOT correct regarding why Health Care costs so much?

You may be exempt from the requirement to maintain minimum essential coverage if you have no affordable coverage options, because the amount you must pay for the annual premium is more than 8% of your household income.

The Health Insurance Portability and Accountability Act of 1996

Disability income insurance policies are required to provide benefits for disabled policyholders until age 65.

The type of health insurance coverage that pays for some or all of the daily costs of room and board during a hospital stay is