#1
Which of the following is a common type of health insurance plan?
Car Insurance
Home Insurance
Life Insurance
Health Maintenance Organization (HMO)
#2
In health insurance terminology, what does the acronym PPO stand for?
Preferred Provider Organization
Primary Care Physician
Preventive Care Options
Policy Premium Offset
#3
In health insurance terminology, what does the acronym POS stand for?
Point of Service
Preventive Options and Services
Policy Overhaul System
Primary Outpatient Services
#4
What is the main purpose of a deductible in health insurance?
To limit coverage for pre-existing conditions
To determine eligibility for insurance
To reduce the overall cost of insurance
To increase the premium amount
#5
In health insurance, what does the term 'co-payment' refer to?
The total amount insured by the policy
The portion of medical expenses paid by the insured
The waiting period before coverage begins
The annual premium for the insurance plan
#6
What is the essential difference between a Premium and a Deductible in health insurance?
Premium is the maximum amount you have to pay for covered services, while Deductible is the fixed amount you pay before your insurance kicks in.
Premium is the fixed amount you pay before your insurance kicks in, while Deductible is the maximum amount you have to pay for covered services.
Premium is the amount you pay monthly for your insurance coverage, while Deductible is the percentage of covered expenses you pay after reaching a certain limit.
Premium is the amount you pay for non-covered services, while Deductible is the fixed amount you pay before your insurance kicks in.
#7
What is the purpose of the Coordination of Benefits (COB) provision in health insurance?
To prevent individuals from having multiple insurance policies
To determine the order of payment when an individual is covered by multiple insurance policies
To exclude certain benefits from coverage
To set a limit on the total benefits an individual can receive
#8
What is the primary function of a Health Maintenance Organization (HMO) in health insurance?
To provide coverage for catastrophic events only
To offer a wide network of healthcare providers
To manage and coordinate healthcare services for its members
To offer high-deductible insurance plans
#9
What is the 'grace period' in health insurance?
The time during which coverage is temporarily suspended
The period after the policy expires when the insured can still renew without penalty
The time allowed for premium payment after the due date without coverage lapse
The waiting period before pre-existing conditions are covered
#10
What is the main advantage of a Health Savings Account (HSA) in health insurance?
Tax-free withdrawals for non-medical expenses
Access to unlimited healthcare services without restrictions
Coverage for pre-existing conditions
Tax advantages for saving money to cover medical expenses
#11
What is a Health Savings Account (HSA) commonly used for in the context of health insurance?
Paying insurance premiums
Saving for future medical expenses
Covering cosmetic surgeries
Purchasing prescription drugs
#12
Which federal program provides health coverage for individuals aged 65 and older in the United States?
Medicaid
CHIP (Children's Health Insurance Program)
Medicare
Affordable Care Act (ACA)
#13
Which of the following is NOT typically covered by a standard health insurance policy?
Emergency room visits
Prescription drugs
Cosmetic surgeries
Preventive care services
#14
What is the purpose of the Affordable Care Act's (ACA) individual mandate?
To provide subsidies for low-income individuals
To require individuals to maintain health insurance coverage or pay a penalty
To regulate insurance premiums
To expand Medicaid coverage
#15
Which of the following is a characteristic of a High Deductible Health Plan (HDHP)?
Low premiums and high out-of-pocket costs
Comprehensive coverage with no deductibles
Coverage exclusively for pre-existing conditions
Government-funded health insurance for low-income individuals
#16
What is the primary purpose of the Consolidated Omnibus Budget Reconciliation Act (COBRA) in health insurance?
To regulate the insurance market
To provide coverage for the elderly
To protect employees by allowing them to continue health coverage after job loss
To establish minimum standards for insurance plans
#17
What does the term 'exclusion' mean in the context of health insurance?
The waiting period before coverage begins
Specific conditions or treatments that are not covered by the insurance policy
The maximum amount an insured individual has to pay out of pocket
The process of selecting a healthcare provider