Health and Life Insurance Study Guide

What is health insurance?

• Health insurance is a type of coverage that pays for medical and surgical expenses incurred by the insured.
• Health insurance is a form of life insurance
• Health insurance covers only dental expenses
• Health insurance is a type of car insurance

What is an annual contribution?

• A one-time payment made every ten years
• A monthly deposit into a savings account
• A contribution made only during leap years
• A regular payment made each year towards a specific goal or investment.

What is a monthly paycheck deduction?

• Amount of money subtracted from an employee's salary each month for various purposes.
• A tax refund received by employees monthly
• A bonus given to employees for good performance
• Amount of money added to an employee's salary each month

Darrell Morris has a family plan. The Health Maintenance Organization (HMO) annual premium is $12,240. The employer pays 90% of the cost. How much is Darrell's annual contribution?

• $2,000
• $1,000
• $1,500
• $1,224

Tags

CCSS.6.RP.A.3C

Kelli Lenz has a membership in a group medical insurance plan. The annual premium is $16,850. Her employer pays 65% of the cost. What is her annual contribution? What is her monthly deduction?

• Kelli's annual contribution is $5,897.50. Her monthly deduction is $491.46.
• Kelli's annual contribution is $4,500. Her monthly deduction is $375.
• Kelli's annual contribution is $6,250. Her monthly deduction is $520.83.
• Kelli's annual contribution is $7,200. Her monthly deduction is $600.

Tags

CCSS.6.RP.A.3C

True or False: Health insurance covers all medical procedures.

• True

• False

The terms that are associated with health care costs are _________________, ___________________, ______________________, and _______________________.

(a)  

Sofia Carbondale has a network single plan. Her network healthcare costs include co-payments for 4 physician visits and 3 specialist visits. Sofia also had 1 emergency room visit. What amount did she pay?

• $750

• $813

• $925

• $830

Tags

CCSS.7.EE.B.3

Emily Ward has a non-network family health insurance plan. This year, her non-network healthcare costs include co-payments for 5 physician visits and 2 specialist visits. Emily also had 1 ambulance trip and a hospital charge of $14,680. How much did she pay?

• $3,820

• $4,198

• $5,345

• $4,921

Tags

CCSS.7.EE.B.3

Mike Polland is single and has a network network health insurance plan. This year, his network healthcare costs include co-payments for 6 physician visits and 3 specialist visits. He had 25 network home health care visits at $30 each. What amount did he pay?

• $1000

• $1030

• $1,115

• $1025

Tags

CCSS.7.EE.B.3