Health Insurance and Social Welfare Quiz

IRA is a retirement savings account, not a health insurance plan.

A deductible in health insurance limits the out-of-pocket expenses the insured pays before the insurance company covers costs.

HSAs allow individuals to save money tax-free for medical expenses.

In-network refers to an agreement between an insurance provider and a healthcare provider to deliver services at pre-negotiated rates.

The out-of-pocket maximum refers to the maximum amount an insured individual is required to pay for covered services in a given period.

COBRA stands for Consolidated Omnibus Budget Reconciliation Act, which allows continuation of employer-sponsored health insurance.

Medicare provides health insurance for individuals aged 65 and older in the United States.

A pre-existing condition is a medical condition that existed before a person's health insurance coverage started.

In an HMO plan, the primary care physician coordinates all healthcare services.

The primary objective of Medicaid is to provide health insurance coverage to low-income individuals and families.

Coinsurance is the amount an insured individual pays for covered services after the deductible has been met.

Cosmetic surgery is typically not covered by most health insurance plans.

A network refers to a group of healthcare providers and facilities with contracts with an insurance company.

Medicaid provides health insurance coverage to low-income individuals and families in the United States.

Certificates of Coverage provide proof of insurance coverage.

CHIP provides health insurance coverage to low-income children and pregnant women in the United States.