Financial Math B: Health Insurance Quiz

What is the purpose of subsidies in health insurance plans?

• To increase the cost of insurance premiums

• To provide additional health benefits

• To help people pay for their insurance premiums

• To cover all medical expenses

Which clause in health insurance plans prevents companies from refusing coverage due to existing health issues?

• Essential health benefits clause

• Subsidies clause

• Pre-existing condition clause

• Individual health plan clause

What do all insurance plans have to cover according to the essential health benefits?

• Only emergency services

• Cosmetic surgeries

• Doctor visits and prescription medications

• Fitness programs

What type of health insurance plans can be purchased on the health insurance exchanges created by the ACA?

• Group health plans

• Government health plans

• Individual health plans

• Temporary health plans

A fixed amount you pay for a covered health care service, usually when you get the service.

• Deductible

• Copay

• Premium

The amount an insured must pay against a claim after the deductible is satisfied.

• Coinsurance

• Deductible

• Copay

Sally's health insurance policy requires her to pay the first $500 of medical costs each year before the company will pay any of her medical bills.  This policy provision is the:

• Co-insurance clause
• Premium
• Annual deductible
• Major medical benefit

If someone gets their health insurance through Medicaid, that means ...

• They are likely to pay all of their insurance premium and get a tax refund or credit when they file their taxes.

• They earn too much money to qualify for low-income subsidies.

• They are definitely a senior citizen since Medicaid is a government program specifically meant to help seniors.

• Their insurance premium is likely covered by the Federal and/or state government.

If you have a health-maintenance-organization (HMO) for your health insurance policy, you…

• may go to ANY doctor you wish to see

• must choose from a list of doctors that are part of the approved doctors

If you have a preferred-provider-organization (PPO) for your health insurance policy, you…

• may go to ANY doctor you wish to see

• must choose from a list of doctors that are part of the approved doctors