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WorksheetsWhat is Health Insurance?
Total questions: 10
Worksheet time: 5mins
What is the definition of health insurance?
A contract that requires your health insurer to pay some or all of your health care costs in exchange for a premium.
is a type of insurance product that provides income in the event that a policyholder is prevented from working and earning an income due to a health problem.
What is the definition of Copay?
(a)
What is an example of copayment?
getting your medication refilled
emergency room visit
emergency visit
What is definition of a Deductible?
(a)
What is the definition of Coinsurance?
(a)
Which of the following is the best definition of the term “health insurance premium?”
The best type of health insurance you can buy.
The amount health insurance companies charge each month for coverage.
A bonus you get at the end of the year if you stay covered.
Don’t know.
Is a health insurance premium something you must pay every month, regardless of whether you use health care services, or do you only have to pay your health insurance premium during months when you use health care services?
Must pay every month, regardless of whether you use services.
Only have to pay in months when you use health care services.
Don’t know.
Suppose that under your health insurance policy, hospital expenses are subject to a $1,000 deductible and $250 per day copay. You get sick and are hospitalized for 4 days, and the bill (after insurance discounts are applied) comes to $6,000. How much of that hospital bill will you have to pay yourself?
$0
$1,000
$2,000
$4,000
Which of the following best describes the “annual out-of-pocket limit” under a health insurance policy?
Don’t know.
The most you will have to pay for premiums in a year
The most your insurance policy will pay for covered services in a year.
The most you will have to pay in deductibles, copays, and coinsurance for covered care received in network for the year.
Which of the following best describes a health plan “provider network?"
A website where consumers can find information about the best doctors.
Don’t know
The hospitals and doctors that contract with your health plan to provide services for an agreed-upon rate or fee schedule.
The computer system doctors and hospitals use to submit bills to insurance companies.
