Finance Q3

A health insurance premium is:

• The amount you pay for healthcare services.

• The monthly payment you make to your insurance company.

• The amount you pay before insurance covers anything.

• A fixed fee you pay for each medical visit.

A deductible is:

• The amount you pay monthly for insurance.

• The amount you pay out-of-pocket before insurance starts to pay.

• A fixed fee you pay for each medical visit.

• The percentage of costs you pay after meeting your deductible.

A copay is:

• The percentage of costs you pay after meeting your deductible.

• A fixed fee you pay for each medical visit.

• The amount you pay monthly for insurance.

• The amount you pay out-of-pocket before insurance starts to pay.

If you increase your deductible, your premium generally:

• Increases.

• Decreases.

• Stays the same.

• Fluctuates randomly.

If you decrease your deductible, your premium generally:

• Increases.

• Decreases.

• Stays the same.

• Fluctuates randomly.

Coinsurance is:

• A fixed fee you pay for each medical visit.

• The percentage of costs you pay after meeting your deductible.

• The amount you pay monthly for insurance.

• The amount you pay out-of-pocket before insurance starts to pay.

An out-of-pocket maximum is:

• The total amount you pay in premiums each year.

• The most you will pay for healthcare services in a year.

• The deductible amount.

• The copay amount.

A potential disadvantage of an HMO is:

• Lower premiums.

• More restrictions on seeing specialists.

• Greater choice of doctors.

• Less paperwork.

A key characteristic of a PPO is:

• Required use of a primary care physician.

• More flexibility in choosing doctors, including specialists.

• Lower premiums.

• No out-of-network coverage.

A potential disadvantage of a PPO is:

• Higher premiums compared to HMOs.

• Less choice of doctors.

• More paperwork.

• Less coverage overall.