Healthcare Insurance and Coverage Considerations Quiz

EPO (Exclusive Provider Organization) is a type of health insurance plan.

Medicare is a government program that provides health coverage for eligible individuals who are 65 or older, certain younger people with disabilities, and people with End-Stage Renal Disease.

The purpose of a copayment in health insurance is to share the cost of a healthcare service between the insurance company and the insured individual.

In health insurance, 'premium' refers to the fixed amount an individual pays each month for health insurance coverage.

Blood type is not a factor typically considered when determining health insurance premiums.

COBRA stands for Consolidated Omnibus Budget Reconciliation Act in the context of healthcare insurance.

A deductible in health insurance is the minimum amount you must pay for covered healthcare services before the insurance starts paying.

In health insurance, 'network' refers to the group of healthcare providers contracted to provide services to plan members.

The main difference between an HMO and a PPO is that HMOs typically require members to select a primary care physician and get referrals for specialists, while PPOs do not.

The purpose of a formulary in health insurance is to provide a list of covered prescription drugs and their tier placement.

The 'out-of-pocket maximum' in health insurance is the highest amount of money you have to pay for covered services in a plan year.

In the context of health insurance, 'pre-existing condition' refers to a medical condition that existed before applying for or enrolling in a health insurance plan.

The primary purpose of health insurance exchanges is to facilitate the purchase of health insurance plans.

In health insurance, an 'in-network provider' is a healthcare provider who accepts the insurance plan's negotiated rates.

The purpose of Medicaid in the United States is to provide health coverage to low-income individuals and families.