Chapter 9 Lesson 4 Health Insurance

What is the primary purpose of health insurance?

• To provide life insurance coverage

• To cover medical expenses

• To insure your car

• To pay for your education

Until what age can you stay on your parent's health insurance plan under the Affordable Care Act (ACA)?

• 18 years old

• 21 years old

• 26 years old

• 30 years old

Which type of health insurance plan typically has lower premiums but is more restrictive about access to healthcare providers?

• Preferred Provider Organization (PPO)

• Health Maintenance Organization (HMO)

• High-Deductible Health Plan (HDHP)

• Medicare

What is a Health Savings Account (HSA) used for?

• Saving for retirement

• Saving for medical expenses

• Saving for a new car

• Saving for a vacation

What is the out-of-pocket maximum in a health insurance policy?

• The maximum premium you pay each month

• The most money you have to spend for covered services in a year

• The maximum amount your employer contributes

• The maximum deductible you pay each year

Which type of health insurance plan offers more provider access and covers care outside the plan’s network?

• Health Maintenance Organization (HMO)

• Preferred Provider Organization (PPO)

• Medicaid

• Medicare

What percentage of Americans have no form of health insurance?

• 5.5%

• 8.5%

• 12.5%

• 15.5%

What is the term for when an employer splits the premium costs with you?

• Deductible

• Subsidizing

• Copayment

• Coinsurance

What is a lifetime limit in a health insurance policy?

• The maximum number of doctor visits allowed per year

• The cap on the total amount of benefits you’re allowed to get from your insurance company

• The maximum number of prescriptions covered per year

• The maximum number of hospital stays allowed per year

Which type of health insurance plan is a good option for young, healthy people who don’t go to the doctor often?

• Health Maintenance Organization (HMO)

• Preferred Provider Organization (PPO)

• High-Deductible Health Plan (HDHP)

• Medicare