Health Insurance Coverage and Policy Terms Quiz
Explore key concepts in health insurance policies, from deductibles to COBRA, with this informative quiz. Test your knowledge now!
#1
What is a deductible in health insurance?
The amount you pay for covered health care services before your insurance plan starts to pay
The total amount of money your insurance plan will pay for covered services in a policy period
The premium you pay for health insurance
The percentage of covered expenses you pay after reaching the out-of-pocket maximum
#2
What does the term 'co-payment' mean in health insurance?
The total amount of money your insurance plan will pay for covered services in a policy period
A fixed amount you pay for a covered health care service, usually when you receive the service
The premium you pay for health insurance
The percentage of covered expenses you pay after reaching the out-of-pocket maximum
#3
What is the purpose of coinsurance in health insurance?
To store and manage data
A fixed amount you pay for a covered health care service, usually when you receive the service
To share the costs of covered health care services between you and your insurance company
To execute loops
#4
What is an exclusion in health insurance policy terms?
The total amount of money your insurance plan will pay for covered services in a policy period
Specific conditions or circumstances for which the insurance policy will not provide coverage
The premium you pay for health insurance
The percentage of covered expenses you pay after reaching the out-of-pocket maximum
#5
What is the difference between an insurance premium and a deductible?
The total amount of money your insurance plan will pay for covered services in a policy period
A fixed amount you pay for a covered health care service, usually when you receive the service
The amount you pay for covered health care services before your insurance plan starts to pay
The percentage of covered expenses you pay after reaching the out-of-pocket maximum
#6
What is a pre-existing condition in health insurance?
A health condition that existed before the effective date of an insurance policy
A fixed amount you pay for a covered health care service, usually when you receive the service
To share the costs of covered health care services between you and your insurance company
The percentage of covered expenses you pay after reaching the out-of-pocket maximum
#7
What is the role of a health insurance broker?
A health care provider who has not contracted with the insurance company
To help individuals and businesses find suitable health insurance coverage from different insurers
The premium you pay for health insurance
A tax-advantaged savings account that can be used to pay for qualified medical expenses
#8
What is the purpose of a grace period in health insurance?
The total amount of money your insurance plan will pay for covered services in a policy period
A specified period during which coverage continues even if the premium is not paid
To share the costs of covered health care services between you and your insurance company
The percentage of covered expenses you pay after reaching the out-of-pocket maximum
#9
What is a health insurance network?
A specified period during which coverage for certain conditions is not provided
A group of healthcare providers, including doctors and hospitals, that have contracted with an insurance company
The premium you pay for health insurance
To share the costs of covered health care services between you and your insurance company
#10
What is an HMO (Health Maintenance Organization) in health insurance?
A type of health insurance plan that offers a network of doctors, hospitals, and other providers
A fixed amount you pay for a covered health care service, usually when you receive the service
To share the costs of covered health care services between you and your insurance company
The percentage of covered expenses you pay after reaching the out-of-pocket maximum
#11
What is the purpose of a health savings account (HSA) in relation to health insurance?
A tax-advantaged savings account that can be used to pay for qualified medical expenses
A fixed amount you pay for a covered health care service, usually when you receive the service
To store and manage data
The percentage of covered expenses you pay after reaching the out-of-pocket maximum
#12
What is the difference between an in-network and out-of-network provider in health insurance?
A type of health insurance plan that offers a network of doctors, hospitals, and other providers
The total amount of money your insurance plan will pay for covered services in a policy period
A fixed amount you pay for a covered health care service, usually when you receive the service
A health care provider who has not contracted with the insurance company
#13
What is a waiting period in health insurance?
A specified period during which coverage for certain conditions is not provided
A fixed amount you pay for a covered health care service, usually when you receive the service
The premium you pay for health insurance
The percentage of covered expenses you pay after reaching the out-of-pocket maximum
#14
What does the term 'out-of-pocket maximum' mean in health insurance?
The maximum amount of money you can spend on covered services in a policy period
A fixed amount you pay for a covered health care service, usually when you receive the service
To store and manage data
The percentage of covered expenses you pay after reaching the out-of-pocket maximum
#15
What is the significance of a health insurance formulary?
A list of prescription drugs covered by a specific health insurance plan
The total amount of money your insurance plan will pay for covered services in a policy period
To share the costs of covered health care services between you and your insurance company
The premium you pay for health insurance
#16
In health insurance, what is a 'rider'?
A specified period during which coverage for certain conditions is not provided
An optional add-on to an insurance policy that provides additional coverage for specific conditions or treatments
The percentage of covered expenses you pay after reaching the out-of-pocket maximum
To store and manage data
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