Exam 12: Health and Disability Insurance

Under a discount on charge arrangement,the provider receives

Assuming you were in the 25% federal and 5% state income tax brackets last year,and you allocated $200 per month to your flexible spending account,how much did you save if there was $1,000 remaining in the account at the end of the year?

Which act established provisions that require U.S.citizens to obtain health insurance?

The Affordable Care Act allows young adults to continue on a parent's health insurance plan until age 19 at which time they must obtain their own coverage.

Compared to indemnity plans,managed health care plans impose more restrictions on the specific health care providers.

Although indemnity plans are less flexible than managed care plans,they charge lower rates.

Health care providers who are part of an HMO are paid a predetermined amount of compensation per month for each patient who participates in the plan.

Policy premiums for long-term care insurance are relatively low,even for those over 60 years old.

The managed health care plan with higher costs,but a greater choice of health care providers is the ________.

Which of the following is not a disadvantage of an HMO plan versus a PPO plan?

The best disability plans pay you if you are not able to work at any job,not just your regular job.

Before you decide to take out an individual disability policy,you should consider all of the following except

Tom purchased disability insurance that will provide $1,400 per month in benefits.His employer carries a disability policy on Tom that will provide an additional $600 per month in benefits.If Tom's monthly budget is $2,500 and Tom is anticipating no additional disability benefits from any other source,what is Tom estimating as his work-related monthly expenditures.

Social Security is the easiest disability coverage to qualify for benefits.

One of the problems with changing jobs is that you will immediately lose your health insurance and may not be able to get new insurance right away.

Regarding Medicaid,which of the following is true?

You are trying to help your aunt figure out how much she owes on a recent flurry of medical bills that resulted from her recent bypass surgery.Her company provided PPO plan includes the following provisions,$2,400 deductible,10% co-pay and a $6,000 maximum out-of-pocket limit.You have summarized her bills as follow: doctor visits $1,500,surgeon and other docs $16,000,operating room $15,000,hospital stay $21,000,rehabilitative service $10,000.How much does she owe in total on these enormous bills?

Unfortunately,you have had several medical procedures in the current year with the following bills,$2,000,$9,200,$18,000,$5,000,and $3,500.Your deductible is $2,400,after which your co-pay is 10%.Your policy also includes a $6,000 out-of-pocket maximum clause.How much of the total bills are you responsible to pay?

Regarding the definition of disability,

Medicaid is health insurance for people with low income and is administered by each state within certain broad federal requirements and guidelines.