Health, Home, & Life Insurance Review

Imagine you've just left your job at Tech Innovations Inc. to pursue your dream of starting your own company. Which of the following requires your former employer to allow you to continue your health insurance coverage (for a fee) for up to 18 months after you leave the company?

• Workers compensation

• Disability

• Long-term care insurance

• COBRA

If your hospital bill is $1000 and you have an 80/20 co-insurance plan, the amount you are expected to pay is:  (assume you have already paid your deductible this year on previous expenses)

• $0
• $200
• $800
• $1000

John, a construction worker, recently had an accident on site and is unable to work. Which type of insurance ensures he receives income during his recovery period?

• disability income insurance

• product liability insurance

• business interruption insurance

• worker’s compensation insurance

Which type of health care policy requires you to always see a primary care physician before you can receive a referral to see a specialist?

• Health Maintenance Organization (HMO)
• Preferred Provider Organization (PPO)

A premium is the portion of the loss that you pay before the insurance company pays anything

• True
• False

HMO’s (Health Maintenance Organization) will pay only for services provided by doctors and hospitals in the health plan network.

• True
• False

If you see a doctor that is not part of your PPO health plan network, your insurance company will not provide any payment for seeing this doctor.

• True
• False

What is the amount the insured person must meet by paying out of pocket before the health insurance pays anything?

• Co-Payment

• Out of Pocket

• Co-Insurance

• Deductible

With this type of policy the insured pays less but has less options:

• HMO
• PPO
• Medicaid

A % of the total cost a person may pay once the deductible is met

• co-pay
• out of pocket
• co-insurance
• premium