Health Insurance Quiz

What is health insurance?

• A contract between a company and a consumer to provide healthcare services for free.

• A contract between a company and a consumer where the company agrees to pay all or some of the insured person's healthcare costs in return for a monthly premium.

• A government-provided service that covers all healthcare costs for every citizen.

• A one-time payment that covers all future medical expenses.

What do health insurance monthly premiums help to pay for?

• Only surgical expenses.

• Most medical and surgical expenses and preventative care costs.

• Only the cost of prescription medications.

• Only the administrative costs of the insurance company.

How does the monthly premium typically relate to out-of-pocket costs in health insurance plans?

• The higher the monthly premium, the higher the out-of-pocket costs.

• The monthly premium has no relation to out-of-pocket costs.

• The higher the monthly premium, the lower the out-of-pocket costs.

• Out-of-pocket costs are fixed regardless of the monthly premium.

What are Medicare and Medicaid?

• Private health insurance companies.

• Types of health insurance deductibles.

• Federal health insurance plans that extend coverage to specific groups of people.

• Non-profit organizations that provide free healthcare.

What is a deductible in the context of health insurance agreements in the U.S.?

• A fixed fee paid every month in addition to the premium.

• A bonus payment given to consumers for not using their insurance.

• A payment that insurance companies give to healthcare providers.

• An amount the consumer pays out-of-pocket before the company coverage begins.

What are co-payments in health insurance plans?

• Payments the insurance company makes to the consumer annually.

• Set shares of the cost that the consumer pays for specific services or procedures.

• Monthly fees paid to the government for healthcare services.

• Bonuses for not using the insurance plan throughout the year.

Who in the United States is eligible to receive federally-subsidized care through Medicare?

• Self-employed people

• People over the age of 65 and those with disabilities or End-Stage Renal Disease

• Families whose incomes are near the poverty level

• Gig workers

What type of health insurance requires patients to choose a primary care physician and get a referral to see a specialist?

• Health Maintenance Organization (HMO)

• Preferred Provider Organization (PPO)

• Medicare

• Medicaid

Which type of health insurance typically offers out-of-network coverage?

• Health Maintenance Organization (HMO)

• Preferred Provider Organization (PPO)

• Medicare

• Medicaid

What is a copay in health insurance terms?