#1
What is the primary purpose of health insurance?
To provide financial protection against medical expenses
To offer discounts on gym memberships
To promote healthy lifestyle choices
To replace regular doctor visits
#2
In the context of health insurance, what is a 'copayment'?
The total cost of medical services covered by insurance
A fixed amount paid by the insured for each healthcare service or prescription
The percentage of medical expenses covered by insurance
A government-funded health program
#3
What is the role of a 'health savings account (HSA)' in the context of health insurance?
A savings account that can be used to pay for qualified medical expenses with tax advantages
A type of insurance that covers only dental care
A program providing free healthcare for low-income individuals
A government agency overseeing health insurance companies
#4
What is the purpose of 'pre-existing condition exclusions' in health insurance?
To provide coverage for existing medical conditions
To exclude certain individuals from getting health insurance
To limit coverage for conditions that existed before obtaining the insurance policy
To offer discounted premiums for individuals with pre-existing conditions
#5
What is 'COINSURANCE' in health insurance?
The full cost of medical services covered by insurance
A fixed amount paid by the insured for each healthcare service or prescription
A percentage of medical expenses shared by the insured and the insurance company
The amount paid by the insurance company for each claim
#6
What does 'premium' refer to in the context of health insurance?
The amount paid by the insured for coverage
The total medical expenses incurred
The number of hospital visits allowed
The duration of coverage
#7
What is the purpose of a 'deductible' in health insurance plans?
The portion of covered expenses paid by the insured before benefits kick in
A discount on prescription medications
Coverage for long-term care
The amount paid by the insurance company for each claim
#8
What is the 'open enrollment period' in health insurance?
A period during which individuals can enroll in a health insurance plan or make changes to their existing coverage
A time when healthcare providers are closed for maintenance
A period for submitting medical claims
A deadline for paying insurance premiums
#9
What does 'COBRA' stand for in the context of health insurance?
Consolidated Omnibus Budget Reconciliation Act
Comprehensive Options for Benefits and Retirement Advancement
Catastrophic Overdraft Balance Reimbursement Act
Cost of Basic Retiree Assistance
#10
In health insurance terminology, what is 'underwriting'?
The process of determining eligibility and setting premium rates based on an individual's health status
A type of prescription medication
The coverage period for a health insurance policy
The maximum amount an insurance company will pay for a claim
#11
Which government program provides health coverage for low-income individuals and families in the United States?
Medicare
Medicaid
CHIP (Children's Health Insurance Program)
Social Security Disability Insurance (SSDI)
#12
What is the 'essential health benefits' requirement under the Affordable Care Act (ACA)?
A list of basic healthcare services that must be covered by health insurance plans
An optional coverage for luxury healthcare services
A mandatory gym membership for insured individuals
A program providing mental health services only
#13
Which government program provides health insurance for individuals aged 65 and older in the United States?
Medicaid
CHIP (Children's Health Insurance Program)
Medicare
Affordable Care Act (ACA)
#14
What does 'long-term care insurance' typically cover?
Medical expenses for short-term illnesses
Coverage for routine dental check-ups
Assistance with activities of daily living (ADLs) for an extended period
Emergency room visits
#15
Which of the following is not typically covered by long-term care insurance?
Nursing home care
Assisted living facility expenses
Routine dental check-ups
Home health care services
#16
What is the purpose of the Affordable Care Act (ACA) in the United States?
To provide subsidies for gym memberships
To expand Medicaid coverage
To regulate long-term care insurance policies
To establish a government-run healthcare system
#17
What is the purpose of 'catastrophic health insurance'?
To cover routine medical expenses
To provide coverage for major medical events with high out-of-pocket costs
To offer discounts on preventive care
To replace the need for long-term care insurance
#18
What is the waiting period in health insurance?
The time between submitting a claim and receiving reimbursement
The duration of a health insurance policy
A period during which certain conditions are not covered after policy inception
The time it takes for an insurance company to approve coverage
#19
In long-term care insurance, what are 'activities of daily living (ADLs)'?
A type of insurance claim
Basic self-care tasks essential for daily living
Coverage for dental check-ups
An insurance company's assessment of eligibility