Question 1

Which provision in a health insurance policy prevents you from collecting benefits from two or more group policies that would in total exceed the actual charges?

Accepted Answer

A)  Coordination of benefits
B)  Assigned benefits
C)  Benefit limits
D)  Guaranteed renewable
E)  Exclusions and limitationsF) A) and B)
G) A) and C)

Question 2

The Wilson family has health insurance coverage that pays 50 percent of out-of-hospital expenses after a $1,200 deductible per person.Mrs.Wilson incurred doctor and prescription medication expenses of $3,850.What amount would the insurance company pay and what amount will the Wilson family pay?

Accepted Answer

Total expenses $3,850 - deductible $1,20...

Question 3

Medicare hospital insurance is financed from a portion of the Social Security tax.

Accepted Answer

A) True 
 B)False

Question 4

According to the Government Accountability Office,fraud and abuse account for nearly ________ percent of all dollars spent on health care.

Accepted Answer

A)  10
B)  11
C)  15
D)  20
E)  25F) A) and B)
G) B) and C)

Question 5

Dread disease and cancer policies are usually very good values.

Accepted Answer

A) True 
 B)False

Question 6

Most insurers limit disability benefits from all sources of insurance to no more than ________ percent of your take-home pay.

Accepted Answer

A)  30-40
B)  40-50
C)  50-60
D)  60-70
E)  70-80F) A) and E)
G) None of the above

Question 7

Because Medicaid coverage is very limited,people using it need to purchase supplemental insurance.

Accepted Answer

A) True 
 B)False

Question 8

Group health insurance plans comprise about ________ percent of all the health insurance issued by health and life insurance companies.

Accepted Answer

A)  60
B)  70
C)  80
D)  90
E)  100F) C) and D)
G) A) and E)

Question 9

Which of the following is true regarding the difference between a reimbursement policy and an indemnity policy for health insurance provisions?

Accepted Answer

A)  A reimbursement policy is based on the actual expenses you incur.
B)  An indemnity policy is based on the actual expenses you incur.
C)  A reimbursement policy is based on specified benefits regardless of actual expenses.
D)  An indemnity policy is based on actual expenses regardless of specified benefits.
E)  There is no difference between these two.F) All of the above
G) A) and B)

Question 10

Blue Shield plans provide hospital care benefits on essentially a "service type" basis.

Accepted Answer

A) True 
 B)False

Question 11

Which country has the highest per capita medical expenditures of any industrialized country in the world?

Accepted Answer

A)  Australia
B)  Britain
C)  Canada
D)  Denmark
E)  United StatesF) A) and B)
G) C) and D)

Question 12

Which of the following is not a key provision of the Patient Protection and Affordable Care Act of 2010?

Accepted Answer

A)  Offers tax credits for small businesses to make employee coverage more affordable
B)  Eliminates copayments for preventive services
C)  Encourages insurance companies to drop people from coverage when they get sick
D)  Restricts the use of annual limits to ensure access to needed care in all plans
E)  Increases funds for Community Health CentersF) A) and D)
G) C) and E)

Question 13

Most private insurance companies sell health insurance policies to ________,who in turn offer them as fringe benefits.

Accepted Answer

A)  individuals
B)  families
C)  employers
D)  employees
E)  non-profit organizationsF) A) and D)
G) B) and D)

Question 14

One way to reduce your own medical costs is to stay well.

Accepted Answer

A) True 
 B)False

Question 15

According to The Center for Medicare and Medicaid Services,health insurance includes both medical expense insurance and:

Accepted Answer

A)  disability income insurance.
B)  unemployment income insurance.
C)  retirement income insurance.
D)  life insurance.
E)  dental insurance.F) A) and E)
G) A) and D)

Question 16

Medigap insurance,intended to supplement Medicare,is sold and serviced by the federal government.

Accepted Answer

A) True 
 B)False

Question 17

You should look for a disability income policy that waives premium payments while you are disabled.

Accepted Answer

A) True 
 B)False

Question 18

Which type of insurance protects your ability to earn income?

Accepted Answer

A)  Life
B)  Liability
C)  Disability income
D)  Car
E)  Home and propertyF) B) and D)
G) D) and E)

Question 19

Which of the following groups has undertaken innovative activities to contain the costs of health care?

Accepted Answer

A)  Employers
B)  Labor unions
C)  Health insurers
D)  Consumers
E)  All of theseF) A) and D)
G) C) and E)

Question 20

If you are 35 years old now,your chances of experiencing a three-month or longer disability before you reach age 65 are _____percent,according to the National Association of Insurance Commissioners.

Accepted Answer

A)  25%
B)  30%
C)  40%
D)  50%
E)  75%F) B) and C)
G) All of the above

Exam 11: Health,disability,and Long-Term Care Insurance

Which of the following is true regarding the difference between a reimbursement policy and an indemnity policy for health insurance provisions?

Correct AnswerverifiedShow Answer

If you are 35 years old now,your chances of experiencing a three-month or longer disability before you reach age 65 are _____percent,according to the National Association of Insurance Commissioners.

Correct AnswerverifiedShow Answer

Dread disease and cancer policies are usually very good values.

Correct AnswerverifiedShow Answer

The Wilson family has health insurance coverage that pays 50 percent of out-of-hospital expenses after a $1,200 deductible per person.Mrs.Wilson incurred doctor and prescription medication expenses of $3,850.What amount would the insurance company pay and what amount will the Wilson family pay?

Correct AnswerverifiedTotal expenses $3,850 - deductible $1,20...View AnswerShow Answer

Because Medicaid coverage is very limited,people using it need to purchase supplemental insurance.

Correct AnswerverifiedShow Answer

You should look for a disability income policy that waives premium payments while you are disabled.

Correct AnswerverifiedShow Answer

Most private insurance companies sell health insurance policies to ________,who in turn offer them as fringe benefits.

Correct AnswerverifiedShow Answer

According to the Government Accountability Office,fraud and abuse account for nearly ________ percent of all dollars spent on health care.

Correct AnswerverifiedShow Answer

One way to reduce your own medical costs is to stay well.

Correct AnswerverifiedShow Answer

Which country has the highest per capita medical expenditures of any industrialized country in the world?

Correct AnswerverifiedShow Answer

Which of the following is not a key provision of the Patient Protection and Affordable Care Act of 2010?

Correct AnswerverifiedShow Answer

Which of the following groups has undertaken innovative activities to contain the costs of health care?

Correct AnswerverifiedShow Answer

Medigap insurance,intended to supplement Medicare,is sold and serviced by the federal government.

Correct AnswerverifiedShow Answer

Which provision in a health insurance policy prevents you from collecting benefits from two or more group policies that would in total exceed the actual charges?

Correct AnswerverifiedShow Answer

Group health insurance plans comprise about ________ percent of all the health insurance issued by health and life insurance companies.

Correct AnswerverifiedShow Answer

According to The Center for Medicare and Medicaid Services,health insurance includes both medical expense insurance and:

Correct AnswerverifiedShow Answer

Most insurers limit disability benefits from all sources of insurance to no more than ________ percent of your take-home pay.

Correct AnswerverifiedShow Answer

Which type of insurance protects your ability to earn income?

Correct AnswerverifiedShow Answer

Medicare hospital insurance is financed from a portion of the Social Security tax.

Correct AnswerverifiedShow Answer

Blue Shield plans provide hospital care benefits on essentially a "service type" basis.

Correct AnswerverifiedShow Answer

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Total expenses $3,850 - deductible $1,20...
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