#1
What is a premium in health insurance?
The amount paid for coverage
ExplanationCost for insurance coverage
#2
In health insurance, what is a pre-existing condition?
A condition that existed before getting insurance coverage
ExplanationCondition existing before coverage
#3
What is the purpose of a health insurance rider?
An additional provision added to a health insurance policy to expand coverage
ExplanationAdditional coverage provision
#4
What is the role of an insurance premium in health coverage?
The amount paid for health coverage
ExplanationPayment for health coverage
#5
What is the purpose of a Health Insurance Exchange?
A marketplace where individuals and small businesses can compare and purchase health insurance plans
ExplanationMarketplace for comparing and buying plans
#6
What does the term 'deductible' refer to in health insurance?
The initial out-of-pocket amount paid by the insured
ExplanationInitial amount paid by the insured
#7
What is a Health Savings Account (HSA) used for?
Saving money for future medical expenses
ExplanationSavings for medical expenses
#8
What is the grace period in health insurance?
The time during which a policyholder can renew a lapsed policy without losing coverage
ExplanationRenewal period after policy lapse
#9
What is the role of a health insurance broker?
Selling insurance policies on behalf of insurance companies
ExplanationAgent selling policies for companies
#10
What is the Coinsurance feature in health insurance?
The percentage of costs covered by the insurance company
ExplanationPercentage of costs covered
#11
What is a Health Maintenance Organization (HMO) in health insurance?
A type of managed care organization
ExplanationManaged care organization type
#12
What is the purpose of a health insurance claim?
To request payment for covered medical expenses
ExplanationRequest for payment of medical expenses
#13
What is a copayment in health insurance?
A fixed amount paid by the insured for each covered healthcare service
ExplanationFixed fee per service
#14
What is the purpose of underwriting in health insurance?
Evaluating the risk and determining the premium
ExplanationRisk evaluation for premium determination
#15
What is the purpose of a health insurance network?
A system of healthcare providers contracted by an insurance company
ExplanationProvider system contracted by insurer
#16
What is the role of COBRA in health insurance?
Allowing individuals to continue their health coverage after job loss
ExplanationContinuation of coverage after job loss
#17
What is the 'out-of-pocket maximum' in health insurance?
The maximum amount the insured has to pay for covered services in a policy period
ExplanationMaximum amount paid by insured
#18
What does the term 'coordination of benefits' mean in health insurance?
A process of aligning different insurance policies to avoid overpayment
ExplanationAligning policies to avoid overpayment
#19
What is a Health Reimbursement Account (HRA) used for?
Reimbursing employees for qualified medical expenses
ExplanationReimbursement for medical expenses