#1
What is the main purpose of health insurance?
To protect against financial losses due to medical expenses
ExplanationFinancial protection against medical costs.
#2
What does the term 'premium' refer to in health insurance?
The amount paid for the insurance policy
ExplanationCost of the insurance policy.
#3
In health insurance, what does the term 'copayment' refer to?
The fixed amount paid by the insured for each medical service
ExplanationFixed payment for services.
#4
What is a 'deductible' in health insurance?
The amount paid by the insured before the insurance coverage kicks in
ExplanationInitial amount paid by the insured.
#5
What is 'co-insurance' in health insurance?
The percentage of medical expenses paid by the insured after the deductible is met
ExplanationPercentage of expenses paid by the insured.
#6
What is the purpose of a Health Maintenance Organization (HMO) in health insurance?
To manage and coordinate healthcare services for its members
ExplanationOrganize and coordinate healthcare.
#7
In health insurance, what does the term 'exclusion' refer to?
A specific medical service or condition not covered by the insurance policy
ExplanationServices or conditions not covered.
#8
What is a Health Savings Account (HSA) commonly used for in conjunction with health insurance?
Paying for routine medical expenses
ExplanationCovering routine expenses.
#9
Which government program provides health insurance for individuals aged 65 and older in the United States?
Medicare
ExplanationHealth insurance for elderly.
#10
What is the primary purpose of the Affordable Care Act (ACA) in the United States?
To regulate the insurance industry
ExplanationRegulation of insurance.
#11
What is the role of a health insurance broker?
To sell insurance policies to individuals and businesses
ExplanationSell insurance policies.
#12
Which type of health insurance plan typically offers more flexibility in choosing healthcare providers?
Preferred Provider Organization (PPO)
ExplanationFlexible choice of providers.
#13
Which government program provides health coverage for low-income individuals and families in the United States?
Medicaid
ExplanationCoverage for low-income individuals.