Health Insurance Policies Quiz

Cosmetic procedures are often considered elective and not covered by basic health insurance.

Co-pay is a predetermined amount you pay for a particular service, typically due at the time of service.

Network refers to healthcare providers who have agreements with the insurer to provide services at discounted rates.

Medicare is a federal program providing health coverage for seniors.

Premium is the monthly cost of your insurance plan.

Dependent coverage permits adding family members to an insurance plan.

Deductible is the amount you must pay before your insurance kicks in and starts covering costs.

Pre-existing conditions are medical issues diagnosed before obtaining insurance, such as high cholesterol.

Out-of-pocket maximum is the limit on how much you have to spend for covered services in a policy period.

PPO plans usually provide more choice in healthcare providers without requiring referrals.

HSAs allow individuals to save for medical expenses with pre-tax dollars.

HDHPs typically have lower premiums but higher deductibles.

Coinsurance involves you and your insurer splitting the costs of covered services.

Prior authorization is necessary for specific services or medications to ensure coverage.

Catastrophic insurance provides coverage for major medical expenses.

Renewability determines if the policy can be extended after it expires.

Lifetime maximum defines the cap on total benefits paid over the insured's lifetime.