#1
What is a premium in health insurance?
The amount paid for insurance coverage
ExplanationInsurance cost
#2
In the context of health insurance, what is a 'pre-existing condition'?
A condition that existed before the insurance coverage started
ExplanationExisting health condition
#3
What does the term 'deductible' refer to in health insurance?
The amount the policyholder pays before insurance coverage kicks in
ExplanationInitial out-of-pocket cost
#4
In health insurance, what is a copayment?
A fixed amount paid by the policyholder for a specific healthcare service
ExplanationFixed payment for services
#5
What is the purpose of a Health Reimbursement Account (HRA) in health insurance?
To reimburse eligible healthcare expenses with employer contributions
ExplanationEmployer-funded reimbursement
#6
What is the 'coordination of benefits' in health insurance?
A clause specifying the primary and secondary coverage when a person is covered by multiple health insurance plans
ExplanationDetermining primary coverage
#7
What is the purpose of a Health Care Flexible Spending Account (FSA) in health insurance?
To allow employees to set aside pre-tax dollars for qualified medical expenses
ExplanationPre-tax medical savings
#8
What is a Health Maintenance Organization (HMO) in the context of health insurance?
A network of healthcare providers that coordinate care for members
ExplanationProvider network
#9
What is the purpose of a Health Savings Account (HSA) in relation to health insurance?
To save money for qualified medical expenses with tax advantages
ExplanationTax-advantaged savings
#10
What does the term 'underwriting' mean in health insurance?
The process of evaluating and accepting insurance applications
ExplanationApplication evaluation
#11
What is the role of the Affordable Care Act (ACA) in the United States regarding health insurance?
To establish health insurance marketplaces and expand Medicaid
ExplanationHealthcare reform law
#12
What is the purpose of a Health Insurance Exchange (Marketplace) in the United States?
To offer a platform for purchasing health insurance plans
ExplanationInsurance purchasing platform