TYPES OF INSURANCE STUDY GUIDE QUIZ

What is the definition of "Premium" in health insurance? The monthly fee you pay to have _________?

• health insurance

• a gym membership

• car insurance

• a credit card

What is the definition of 'Deductible' in health insurance? The amount you must pay out-of-pocket before your insurance starts covering _________.

• expenses

• premiums

• deductions

• taxes

What is the definition of "Copayment (Copay)" in health insurance? A fixed fee you pay for medical services after meeting your _________.

• deductible

• premium

• coverage

• network

What is the definition of "Coinsurance" in health insurance? A percentage of costs you pay after reaching your _________?

• deductible

• premium

• copayment

• out-of-pocket maximum

What is the definition of "Out-of-Pocket Maximum" in health insurance? The most you pay in a year before your insurance covers 100% of your _________?

• costs

• deductibles

• premiums

• co-payments

What is the definition of 'Actuarial Value' in health insurance? The percentage of total average costs your insurance will _________?

• cover

• increase

• delay

• ignore

What is the definition of "Catastrophic Plan" in health insurance? A low-premium plan for people under 30 or with financial hardship. It covers serious illness or injury, not ________ care.

• routine

• emergency

• specialty

• preventive

Which type of health insurance plan requires you to see in-network providers and get a referral to see specialists?

• HMO (Health Maintenance Organization)

• PPO (Preferred Provider Organization)

• EPO (Exclusive Provider Organization)

• POS (Point of Service)

Which type of health insurance plan allows you to see out-of-network providers without referrals?

• HMO (Health Maintenance Organization)

• PPO (Preferred Provider Organization)

• EPO (Exclusive Provider Organization)

• POS (Point of Service)

Which type of health insurance plan requires you to stay in-network but does not require referrals?

• HMO (Health Maintenance Organization)

• PPO (Preferred Provider Organization)

• EPO (Exclusive Provider Organization)

• POS (Point of Service)