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Accident and Health Insurance ( Latest / ) Actual Questions and Answers 100% Correct
- Health Insurance
Answer: offset risk of disability or prolonged illness
- 2 ways to purchase health insurance
Answer: group plan & individual plan
- 2 perils of health insurance
Answer: sickness & accident
- 2 kinds of losses in health insurance
Answer: medical bills & lost income
- 2 types of health insurance policies
Answer: medical expense policies & disability income policies
6. Medical Expense Policies pay:
Answer: the doctors, nurses, hospitals
7. Disability Income Policies pay:
Answer: insured as replacement check
- Medical Expense
Answer: Which Health Insurance policy?
-whole family covered -paid immediately
- no guaranteed premiums (adjustable)
- dollar deductible
- Disability Income
Answer: Which Health Insurance Policy?
- wage earner covered
- paid monthly or bi-weekly according to paychecks
- guaranteed premiums
- deductible = elimination period
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- Elimination Period
Answer: time without benefits
- Deductible
Answer: Amount you must pay before you begin receiving any benefits from your
insurance company
- Blue Cross/Blue Shield
Answer: Prepaid medical benefits for "subscribers" @ ap- proved facilities; many non-profit.
- Health Maintenance Organization (HMO)
- out-patient treatment
Answer: an organization that provides com- prehensive medical care to subscribers for a fixed fee -early treatment -preventive medicine
- Preferred Provider Organization (PPO)
- fee-for-service basis
Answer: a group of doctors and hospitals that agree to provide health care at rates approved by the insurer
- Managed Care
Answer: Primary care physicians acting as gate keepers
- Preventive Care
Answer: alternatives to hospitals (surgical centers & hospices)
- High Deductible Health Plan (HDHP)
Answer: A health insurance policy that requires the policyholder to pay more out- of-pocket medical expenses but usually has lower premiums than traditional health insurance plans.
- consumer-driven health plan (CDHP)
Answer: a type of managed care in which a high-deductible, low premium
insurance plan is combined with a pretax savings account to cover out-of-pocket medical expenses
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