Understanding Insurance: HMO, PPO, and More

What is one advantage of choosing an HMO plan?

• Greater flexibility in choosing healthcare providers

• Lower out-of-pocket costs

• No need for referrals to see specialists

• Coverage for out-of-network services

Which of the following is a disadvantage of a PPO plan?

• Requires referrals to see specialists

• Higher premiums compared to HMO plans

• Limited choice of healthcare providers

• No coverage for out-of-network services

What is a premium in the context of insurance?

• The amount you pay for covered healthcare services before your insurance plan starts to pay

• The fixed amount you pay for a covered healthcare service

• The amount you pay for your health insurance every month

• The percentage of costs of a covered healthcare service you pay after you've paid your deductible

How does increasing your deductible affect your insurance premium?

• Increases the premium

• Decreases the premium

• Has no effect on the premium

• Doubles the premium

What is a copay?

• The amount you pay for your health insurance every month

• The fixed amount you pay when you arrive to the doctor for a service

• The percentage of costs of a covered healthcare service you pay after you've paid your deductible

• The amount you pay for covered healthcare services before your insurance plan starts to pay

What is coinsurance?

• The amount you pay for your health insurance every month

• The fixed amount you pay for a covered healthcare service

• The percentage of costs of a covered healthcare service you pay after you've paid your deductible

• The amount you pay for covered healthcare services before your insurance plan starts to pay

Which of the following is true about collision coverage in car insurance?

• It covers damage to your car from theft or natural disasters

• It covers damage to your car from a collision with another vehicle or object

• It covers medical expenses for injuries to you and your passengers

• It covers damage to other people's property

What does comprehensive coverage in car insurance cover?

• Damage to your car from a collision with another vehicle

• Damage to your car from theft, vandalism, or natural disasters

• Medical expenses for injuries to you and your passengers

• Damage to other people's property

What is liability coverage in car insurance?

• It covers damage to your car from theft or natural disasters

• It covers damage to your car from a collision with another vehicle

• It covers damage to other people's property and injuries you cause to others

• It covers medical expenses for injuries to you and your passengers

What does personal injury protection (PIP) cover in car insurance?

• Damage to your car from theft or natural disasters

• Damage to your car from a collision with another vehicle

• Medical expenses for injuries to you and your passengers, regardless of fault

• Damage to other people's property