#1
Which of the following is not a common type of health insurance plan?
Health Expense Reimbursement Account (HERA)
ExplanationHERA is not a common type of health insurance plan.
#2
What is the purpose of a health insurance premium?
To pay for the insurance policy
ExplanationThe purpose of a health insurance premium is to pay for the insurance policy.
#3
Which of the following is typically not covered by health insurance?
Cosmetic surgery
ExplanationCosmetic surgery is typically not covered by health insurance.
#4
What does the term 'network' refer to in health insurance?
A group of healthcare providers that have contracts with an insurance company
ExplanationIn health insurance, a network refers to a group of healthcare providers that have contracts with an insurance company.
#5
What is the purpose of a deductible in health insurance?
To determine the initial out-of-pocket expense
ExplanationThe deductible helps determine the initial out-of-pocket expense for the insured.
#6
Which federal program provides health coverage for individuals aged 65 and older?
Medicare
ExplanationMedicare provides health coverage for individuals aged 65 and older.
#7
What does the term 'out-of-pocket maximum' refer to in health insurance?
The maximum amount the insured has to pay for covered services in a year
ExplanationThe out-of-pocket maximum refers to the maximum amount the insured has to pay for covered services in a year.
#8
In health insurance, what is a 'pre-existing condition'?
A condition that existed before the insurance coverage began
ExplanationA pre-existing condition is a condition that existed before the insurance coverage began.
#9
What does COBRA stand for in the context of health insurance?
Consolidated Omnibus Budget Reconciliation Act
ExplanationCOBRA stands for Consolidated Omnibus Budget Reconciliation Act in the context of health insurance.
#10
In health insurance, what is 'coinsurance'?
The percentage of covered expenses paid by the insured after the deductible
ExplanationCoinsurance is the percentage of covered expenses paid by the insured after the deductible.
#11
What is a Health Savings Account (HSA) commonly used for in health insurance?
To save for medical expenses tax-free
ExplanationAn HSA is commonly used to save for medical expenses tax-free in health insurance.
#12
What is the role of a health insurance broker?
To advise individuals and businesses on insurance options
ExplanationThe role of a health insurance broker is to advise individuals and businesses on insurance options.