Question 1

Medicare covers the cost of care in what countries besides the United States?

Accepted Answer

Medicare only covers the cost of care in Mexico and Canada. It does not cover care in Germany or any other countries outside of the United States.

Question 2

What is the importance of health insurance and disability insurance in personal financial planning?

Accepted Answer

The answer of What is the importance of health insurance...

Question 3

Why are the costs of health insurance and health care increasing?

Accepted Answer

The answer of Why are the costs of health insurance...

Question 4

What are the primary sources of government health care insurance?

Accepted Answer

The answer of What are the primary sources of government...

Question 5

What are some things that you can do to reduce your personal health care costs?

Accepted Answer

The answer of What are some things that you can...

Question 6

What should you do when an HMO denies treatment or coverage?

Accepted Answer

When an HMO denies treatment or coverage, it is important to take a proactive approach and utilize all available resources. Asking for a letter detailing the clinical reasons for the denial can help provide a clearer understanding of the situation. Referring to the plan document or contacting the member services department of the HMO can provide information on the appeals process. Making copies of any correspondence and reimbursements can help keep a record of the situation. Enlisting the help of your doctor, employer, and state insurance department can provide additional support and resources to help lobby your case before the HMO. Therefore, the best choice is to do everything included in the other answers.

Question 7

Every year, what percent of the adult U.S. population suffers a long-term disability?

Accepted Answer

The answer of Every year, what percent of the adult...

Question 8

In 2012, the highest percentage of health care dollars went toward which category?

Accepted Answer

In 2012, hospital care accounted for the highest percentage of healthcare dollars at 32.0%, followed by physician and clinical services at 20.0%, then prescription drugs at 10.0%, nursing home care at 5.0%, and home health at 3.0%.

Question 9

Up to how many days of skilled nursing care are covered by Medicare?

Accepted Answer

Medicare covers up to 100 days of skilled nursing care, with certain conditions and limitations.

Question 10

More people have ______ insurance than any other kind of health insurance.

Accepted Answer

Hospital expense insurance provides coverage for expenses related to hospital stays, surgeries, and emergency room visits, making it a popular choice among individuals and families. It is generally more comprehensive and affordable than other types of insurance.

Question 11

Identify the main private sources of health care insurance.

Accepted Answer

The answer of Identify the main private sources of health...

Question 12

Group health insurance plans comprise about what percent of all health insurance issued by health and life insurance companies?

Accepted Answer

The answer of Group health insurance plans comprise about what...

Question 13

Renee Crowgy's policy includes a $500 deductible and a coinsurance provision requiring her to pay 20 percent thereafter. Her medical bills total $5,500. What amount is she required to pay personally?

Accepted Answer

Renee is responsible for the $500 deductible plus 20% of the remaining $5,000, which is $1,000. So, she is required to pay a total of $1,500 personally.

Question 14

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

Accepted Answer

The Patient Protection and Affordable Care Act of 2010 does not encourage insurance companies to drop people from coverage when they get sick. In fact, it includes provisions to prevent insurance companies from denying coverage or dropping coverage for those with pre-existing conditions. The other options listed are key provisions of the act.

Question 15

The Affordable Health Act of 2010 requires new health plans to allow young people to remain on their parents' insurance policy until what age?

Accepted Answer

The Affordable Health Act of 2010 requires new health plans to allow young people to remain on their parents' insurance policy until age 26.

Question 16

What are the five basic types of health insurance? What are their benefits and limitations?

Accepted Answer

The answer of What are the five basic types of...

Question 17

What is disability income insurance? What are the major sources of disability income insurance?

Accepted Answer

The answer of What is disability income insurance? What are...

Question 18

Physician expense insurance coverage excludes which of the following:

Accepted Answer

The answer of Physician expense insurance coverage excludes which of...

Question 19

As a national average, a year in a nursing home costs:

Accepted Answer

According to Genworth's Cost of Care Survey 2021, the national median cost of a private room in a nursing home is $105,850 per year, which rounds up to $88,000 as an approximate average. Therefore, the best choice is D.

Quiz 11: Health, Disability, and Long-Term Care Insurance