#1
What is a deductible in health insurance?
The total amount of money you must pay out-of-pocket before your insurance coverage begins
ExplanationInitial payment before insurance kicks in
#2
Which of the following is not typically covered by health insurance?
Cosmetic surgery
ExplanationNon-medically necessary procedures
#3
What is the Affordable Care Act (ACA) also known as?
Obamacare
ExplanationLegislation for healthcare reform
#4
What is a co-payment (co-pay) in health insurance?
A fixed amount you pay for a covered health care service
ExplanationFixed fee per covered service
#5
What is coinsurance in health insurance?
A percentage of the cost you pay for a covered service
ExplanationPercentage of covered service cost paid by the insured
#6
What does COBRA stand for in the context of health insurance?
Consolidated Omnibus Budget Reconciliation Act
ExplanationLegislation providing continuation of coverage
#7
What is the difference between HMO and PPO health insurance plans?
HMO plans typically require referrals to see specialists, while PPO plans do not
ExplanationReferral requirement for specialists
#8
What is the Health Savings Account (HSA) primarily used for?
To pay for qualified medical expenses with pre-tax dollars
ExplanationPre-tax savings for medical costs
#9
What is the purpose of a formulary in health insurance?
To list the medications covered by the insurance plan and their tier levels
ExplanationMedication coverage and tiers