Exam 9: Insuring Your Health

Medicare deductibles and co-insurance amounts are revised annually to reflect changing medical costs.

Choose the word or phrase in [ ] which will correctly complete the statement. Select A for the first item, B for the second item, and C if neither item will correctly complete the statement. -Long-term health care [does | does not] have a deductible.

Which of the following changes would tend to increase the premium on a disability policy?

Ben's health coverage charges a low ($15)deductible each time he visits the doctor or hospital.Other than the low per-service deductible,there is very little cost sharing.However,Ben must go to the health care providers listed by the provider of the health coverage.If he goes to a provider that is not on the list,there is very little coverage.Which of the following types of entity most likely provides Ben's health coverage?

Supplementary Medical Insurance (SMI)provides health care protection beyond basic hospital coverage for

About 13% of Americans are not covered by health insurance.

Choose the word or phrase in [ ] which will correctly complete the statement. Select A for the first item, B for the second item, and C if neither item will correctly complete the statement. -If an employee could afford additional health insurance coverage in addition to group coverage,most should purchase [dental | disability income] insurance.

An elimination period is a term that applies to disability insurance but not long-term care insurance.

Choose the word or phrase in [ ] which will correctly complete the statement. Select A for the first item, B for the second item, and C if neither item will correctly complete the statement. -Medicare [hospital | supplemental medical] insurance requires those covered to pay a monthly premium.

If your employer offers access to a group health insurance plan,you may still be better off going with an individual policy.

The insurance designed to help with nursing home or in-home care due to chronic illness is called

Choose the word or phrase in [ ] which will correctly complete the statement. Select A for the first item, B for the second item, and C if neither item will correctly complete the statement. -Hospital insurance pays the costs for room and board and [the use of an operating room | the fee charged by the surgeon].

In order to qualify for disability insurance under social security,a person must be

Choose the word or phrase in [ ] which will correctly complete the statement. Select A for the first item, B for the second item, and C if neither item will correctly complete the statement. -Scheduled surgical benefits tend to be [very close to | way below] what most surgeons will charge.

Choose the word or phrase in [ ] which will correctly complete the statement. Select A for the first item, B for the second item, and C if neither item will correctly complete the statement. -The average age of the American population is [decreasing | increasing].

The Affordable Care Act's expenditures are financed by

An elimination period is the number of days that must pass before disability policies pay proceeds.

Choose the word or phrase in [ ] which will correctly complete the statement. Select A for the first item, B for the second item, and C if neither item will correctly complete the statement. -Most commonly,the deductible in a health insurance policy is on [an annual | a per-incident] basis.

Choose the word or phrase in [ ] which will correctly complete the statement. Select A for the first item, B for the second item, and C if neither item will correctly complete the statement. -A coordination of benefits provision in a health care policy would [aid | prohibit] collecting multiple payments for health care.

Choose the word or phrase in [ ] which will correctly complete the statement. Select A for the first item, B for the second item, and C if neither item will correctly complete the statement. -Disability insurance is designed to [replace some of your income | pay medical bills] when you are disabled.