Question 1

Which one of the following is not a provider of health insurance?

Accepted Answer

Health Insurance Industry Association is not a provider of health insurance. It is an organization that represents the interests of health insurance companies.

Question 2

Which one of the following provisions requires that the policyholder pay a basic amount before the policy benefits begin?

Accepted Answer

A deductible is a provision found in many insurance policies that require the policyholder to pay a certain amount out of pocket before the insurance company begins paying covered expenses. This helps prevent small claims and encourages policyholders to look for cost-effective solutions to their medical needs.

Question 3

Most private insurance companies sell health insurance policies to:

Accepted Answer

The answer of Most private insurance companies sell health insurance...

Question 4

According to your textbook,the average benefit paid under supplemental hospital indemnity plans:

Accepted Answer

The textbook states that “the average benefit paid under supplemental hospital indemnity plans generally does not justify the premium cost” (p. 265). Therefore, it may not be a cost-effective option for most people.

Question 5

Which type of insurance protects "your ability to earn income?"

Accepted Answer

Disability insurance is designed to protect your ability to earn an income in case you become disabled due to an accident or illness. It provides you with a steady stream of income when you can't work, so you can continue to pay bills and live your life without worrying about financial hardship. Life, liability, car, and home/property insurance do not offer this type of protection.

Question 6

Marcia Fuller has an insurance policy that she and her three daughters,ages 6,10,and 12,are entitled to benefits under.Which provision in her insurance policy is defined by this list of covered members?

Accepted Answer

The provision that is defined by the list of covered members is eligibility. It outlines who is entitled to receive benefits under the insurance policy.

Question 7

Darren Chase has an insurance policy that will only pay for a maximum of 60 days of hospitalization during a year.Which provision in his insurance policy would specify this?

Accepted Answer

Benefit limits specify the maximum amount that the insurance company will pay for a particular benefit, in this case, the maximum number of days of hospitalization that will be covered under the policy per year.

Question 8

Which type of health insurance is a poor value?

Accepted Answer

Dread disease policies only cover specific illnesses, so they do not provide comprehensive coverage. Additionally, the premiums for these policies are often high, making them a poor value overall.

As for the best choice(s), it will depend on an individual's specific needs and situation. Generally, individual and group health plans are the most comprehensive and offer the best value. Dental and vision plans can also be helpful for those who need coverage for those types of services.

Question 9

Benjamin Northcutt has an insurance policy that does not cover cosmetic surgery like the nose job he would like to have.Which provision in his insurance policy would specify this?

Accepted Answer

Exclusions and limitations provisions in an insurance policy would specifically state what is not covered under the policy, such as cosmetic surgery in this case.

Question 10

Which of the following statements is not true?

Accepted Answer

Physician expense insurance coverage typically includes visits to the doctor's office, x-rays, and lab tests. This statement is not true.

Question 11

Which type of health insurance includes two features (a deductible provision and a coinsurance provision),which help keep the premium within the policyholder's means?

Accepted Answer

The type of health insurance that includes a deductible provision and a coinsurance provision is major medical expense insurance. The deductible provision requires the policyholder to pay a certain amount out of pocket before the insurance coverage begins, which can help keep the premium lower. The coinsurance provision requires the policyholder to pay a percentage of the medical expenses, which can also help keep the premium lower. These features make major medical expense insurance a good choice for individuals who want comprehensive coverage but also want to keep their premiums affordable.

Question 12

Health insurance is not available from:

Accepted Answer

Home Health Care Agencies do not typically provide health insurance. They may provide services such as skilled nursing or rehabilitation therapy, but they are not insurance providers. Private insurance companies, Blue Cross and Blue Shield, HMOs, and PPOs are all options for obtaining health insurance.

Question 13

Dean Thomas has an insurance policy that cannot be cancelled unless he fails to pay his premium when due.Which provision in his insurance policy would specify this?

Accepted Answer

The provision that specifies that an insurance policy cannot be cancelled unless the policyholder fails to pay premiums is typically referred to as the "guaranteed renewable" provision. This provision guarantees that the policyholder has the right to continue coverage as long as the premiums are paid on time, regardless of changes in health status or other factors that may normally affect insurability.

Question 14

Dental expense insurance provides reimbursement for:

Accepted Answer

Dental expense insurance provides reimbursement for all of these procedures, including oral examinations, fillings, extractions, and inlays. It is important to carefully review the policy details and limitations to ensure coverage for specific procedures.

Question 15

Which one of the following would be your best selection if you could only choose one of the following types of insurance?

Accepted Answer

The answer of Which one of the following would be...

Question 16

A good health insurance plan should:

Accepted Answer

Providing at least 120 days' hospital room and board in full is a good benchmark for a health insurance plan. This ensures that a significant portion of hospital expenses will be covered without exposing the insured to significant financial risk. The other answer choices are not necessarily optimal for a good health insurance plan. Imposing unreasonable exclusions, for example, could limit the scope of coverage and leave the insured vulnerable to unexpected medical expenses. Providing at least a $2 million lifetime maximum or limiting out-of-pocket expenses to $1,000 per year may be helpful, but these alone do not guarantee a good health insurance plan. Paying 100 percent for out-of-hospital expenses may also be desirable, but it depends on what is considered "out-of-hospital" and whether the insured has significant inpatient medical needs.

Question 17

A good health insurance plan should:

Accepted Answer

The answer of A good health insurance plan should:
...

Question 18

Which type of insurance is usually bought in combination with hospital and surgical insurance?

Accepted Answer

Physician's expense insurance is typically bought in combination with hospital and surgical insurance to cover the costs of physician services, which are not covered by hospital and surgical insurance alone.

Question 19

Which health insurance policy pays benefits only when you are hospitalized,but pays these benefits in cash which you can use for medical,nonmedical,or supplementary expenses?

Accepted Answer

The policy that pays benefits only when you are hospitalized but pays these benefits in cash which you can use for medical, nonmedical, or supplementary expenses is called a Hospital Indemnity policy. It does not cover non-hospitalization medical expenses but is useful for providing cash benefits to cover out-of-pocket expenses in case of hospitalization.

Question 20

____________ is a type of major medical insurance that has a very low deductible amount and is offered without a separate basic plan.

Accepted Answer

Comprehensive major medical insurance typically has a low deductible and provides coverage for a wide range of medical expenses without the need for a separate basic plan. This type of insurance is often considered the most comprehensive and includes coverage for hospitalization, surgery, and other major medical expenses.

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

Which one of the following is not a provider of health insurance?

Which one of the following provisions requires that the policyholder pay a basic amount before the policy benefits begin?

Most private insurance companies sell health insurance policies to:

According to your textbook,the average benefit paid under supplemental hospital indemnity plans:

Which type of insurance protects "your ability to earn income?"

Marcia Fuller has an insurance policy that she and her three daughters,ages 6,10,and 12,are entitled to benefits under.Which provision in her insurance policy is defined by this list of covered members?

Darren Chase has an insurance policy that will only pay for a maximum of 60 days of hospitalization during a year.Which provision in his insurance policy would specify this?

Which type of health insurance is a poor value?

Benjamin Northcutt has an insurance policy that does not cover cosmetic surgery like the nose job he would like to have.Which provision in his insurance policy would specify this?

Which of the following statements is not true?

Which type of health insurance includes two features (a deductible provision and a coinsurance provision) ,which help keep the premium within the policyholder's means?

Health insurance is not available from:

Dean Thomas has an insurance policy that cannot be cancelled unless he fails to pay his premium when due.Which provision in his insurance policy would specify this?

Dental expense insurance provides reimbursement for:

Which one of the following would be your best selection if you could only choose one of the following types of insurance?

A good health insurance plan should:

A good health insurance plan should:

Which type of insurance is usually bought in combination with hospital and surgical insurance?

Which health insurance policy pays benefits only when you are hospitalized,but pays these benefits in cash which you can use for medical,nonmedical,or supplementary expenses?

____________ is a type of major medical insurance that has a very low deductible amount and is offered without a separate basic plan.