Question 1

The set amount that you must pay toward medical expenses before the insurance company pays benefits is called

Accepted Answer

A)   Reimbursement.
B)   Out-of-pocket limit.
C)   Deductible.
D)   Internal limit.
E)   Indemnity.F) A) and B)
G) A) and E)

Question 2

A summary plan description outlines the disadvantages of your health plan along with your legal rights under the Employment Retirement Income Security Act.

Accepted Answer

A) True 
 B)False

Question 3

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.

Accepted Answer

A) True 
 B)False

Question 4

What is guaranteed renewability?

Accepted Answer

Guaranteed renewability is a provision i...

Question 5

A Medigap policy fills the gap between medical costs and medical payments from

Accepted Answer

A)   Home health care agencies.
B)   Hospital and medical service plans.
C)   Medicare.
D)   Medicaid.
E)   Private insurance companies.F) C) and D)
G) A) and D)

Question 6

Jack needs comprehensive medical coverage; however,his income is quite low.What plan should he investigate?

Accepted Answer

A)   Medicare Part A
B)   Medicare Part B
C)   Medicaid
D)   Medigap
E)   Medicare Part CF) B) and E)
G) All of the above

Question 7

Under the 2010 health care reform law,which of the following is NOT correct?

Accepted Answer

A)   Adult children can remain on their parents' insurance policy until age 26.
B)   Most insurers must provide preventive care screenings without charging deductibles or co-pays.
C)   Employers must offer continuing coverage through COBRA for up to 24 months after you leave your job.
D)   Two of these are not correct.
E)   None of these are correct.F) B) and D)
G) A) and C)

Question 8

A deductible is the amount you must pay before benefits become payable by the insurance company.

Accepted Answer

A) True 
 B)False

Question 9

Peter has a health insurance policy that includes a deductible of $1,500,a coinsurance of 20%,and a stop-loss of $5,000.If his total bill is $20,000,how much will he pay?
 Show all calculations and

Accepted Answer

Peter will pay either the calculated amo...

Question 10

If you choose a Medicare Advantage Plan (Part C),you will not need the original Medicare plan (Parts A and B).

Accepted Answer

A) True 
 B)False

Question 11

The type of health insurance coverage that may cover routine doctor visits,X-rays,and lab tests is

Accepted Answer

A)   Dental expense.
B)   Surgical expense.
C)   Hospital expense.
D)   Physician expense.
E)   Major medical expense.F) B) and E)
G) B) and D)

Question 12

Medicare typically covers routine checkups.

Accepted Answer

A) True 
 B)False

Question 13

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

Accepted Answer

A) True 
 B)False

Question 14

Blue Cross and Blue Shield are

Accepted Answer

A)   Health maintenance organizations (HMO) .
B)   Private insurance companies.
C)   Hospital and medical service plans.
D)   Types of Medicare.
E)   Preferred provider organizations (PPO) .F) A) and D)
G) B) and D)

Question 15

Health insurance is an important type of protection for many people.What is the primary source of health insurance?
 What other options are available?

Accepted Answer

Most people who have health insurance ar...

Question 16

The Health Insurance Portability and Accountability Act of 1996

Accepted Answer

A)   Sets federal standards to ensure that workers do not lose their health insurance if they change jobs.
B)   Sets state standards to ensure that workers do not lose their health insurance if they change jobs.
C)   Applies to individual health insurance policies.
D)   Prevents employees from moving from one group health plan to another without a lapse in coverage.
E)   Is an update of the Consolidated Omnibus Budget Reconciliation Act of 1986.F) B) and D)
G) A) and C)

Question 17

This health insurance provision lets your insurer make direct payments to your doctor or hospital.

Accepted Answer

A)   Assigned benefits
B)   Benefit limits
C)   Exclusions and limitations
D)   Internal limits
E)   Service benefitsF) A) and E)
G) A) and D)

Question 18

Which of the following is INCORRECT about dread disease policies?

Accepted Answer

A)   They are illegal in many states.
B)   Each policy covers a wide range of conditions.
C)   They play upon unrealistic fears.
D)   These policies are usually sold through the mail, in newspapers, and magazines, or by door-to-door salespeople.
E)   They cover diseases that are already covered if you are insured under a major medical plan.F) A) and B)
G) B) and E)

Question 19

Individuals over the age of 65 who are eligible for federal government health plan coverage may also be interested in purchasing more coverage called

Accepted Answer

A)  Medicare Part A.
B)  Medicare Part B.
C)  Medicaid.
D)  Medigap.
E)  Statewide health coverage.F) A) and D)
G) A) and B)

Question 20

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

Accepted Answer

A) True 
 B)False

Exam 9: Health and Disability Income Insurance

A Medigap policy fills the gap between medical costs and medical payments from

Correct AnswerverifiedShow Answer

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.

Correct AnswerverifiedShow Answer

Which of the following is INCORRECT about dread disease policies?

Correct AnswerverifiedShow Answer

The Health Insurance Portability and Accountability Act of 1996

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Medicare typically covers routine checkups.

Correct AnswerverifiedShow Answer

Blue Cross and Blue Shield are

Correct AnswerverifiedShow Answer

Peter has a health insurance policy that includes a deductible of $1,500,a coinsurance of 20%,and a stop-loss of $5,000.If his total bill is $20,000,how much will he pay? Show all calculations and

Correct AnswerverifiedPeter will pay either the calculated amo...View AnswerShow Answer

The set amount that you must pay toward medical expenses before the insurance company pays benefits is called

Correct AnswerverifiedShow Answer

A deductible is the amount you must pay before benefits become payable by the insurance company.

Correct AnswerverifiedShow Answer

A summary plan description outlines the disadvantages of your health plan along with your legal rights under the Employment Retirement Income Security Act.

Correct AnswerverifiedShow Answer

Health insurance is an important type of protection for many people.What is the primary source of health insurance? What other options are available?

Correct AnswerverifiedMost people who have health insurance ar...View AnswerShow Answer

This health insurance provision lets your insurer make direct payments to your doctor or hospital.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

If you choose a Medicare Advantage Plan (Part C),you will not need the original Medicare plan (Parts A and B).

Correct AnswerverifiedShow Answer

Individuals over the age of 65 who are eligible for federal government health plan coverage may also be interested in purchasing more coverage called

Correct AnswerverifiedShow Answer

The type of health insurance coverage that may cover routine doctor visits,X-rays,and lab tests is

Correct AnswerverifiedShow Answer

Under the 2010 health care reform law,which of the following is NOT correct?

Correct AnswerverifiedShow Answer

Jack needs comprehensive medical coverage; however,his income is quite low.What plan should he investigate?

Correct AnswerverifiedShow Answer

What is guaranteed renewability?

Correct AnswerverifiedGuaranteed renewability is a provision i...View AnswerShow Answer

Correct Answer
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Peter will pay either the calculated amo...
View Answer

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Correct Answer
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Most people who have health insurance ar...
View Answer

Correct Answer
verified

Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Guaranteed renewability is a provision i...
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