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Risk Management and Insurance

Business

Quiz 15 :

Health-Care Reform;individual Health Insurance Coverages

Quiz 15 :

Health-Care Reform;individual Health Insurance Coverages

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All of the following statements about long-term care insurance are true EXCEPT
Free
Multiple Choice
Answer:

Answer:

A

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Which of the following statements about individual disability income policies is true?
Free
Multiple Choice
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Answer:

D

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Which of the following statements is (are)true concerning benefit payments under long-term care insurance? I.Expense-incurred policies pay for actual charges up to a specified daily limit. II.Indemnity policies pay a specified daily benefit regardless of the charges incurred.
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Multiple Choice
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Answer:

C

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Dirk required surgery for a kidney impairment.His total bill for medical services was $50,000.Dirk has a medical expense policy with a $1,000 calendar-year deductible and a $5,000 annual out-of-pocket limit.His coinsurance percentage is 20 percent.The out-of-pocket limit applies to coinsurance only.Assuming this surgery and hospitalization were the first medical care that Dirk received during the year and that all of the hospital services were eligible for coverage under the policy,how much of the $50,000 bill will the insurer pay?
Multiple Choice
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All the following are common exclusions in a medical expense insurance policy EXCEPT
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Kristen has an individual medical expense policy with a $1,000 calendar-year deductible,a $5,000 annual out-of-pocket limit,and 80-20 coinsurance.Kristen was hospitalized for a surgical procedure in March,her first health care treatment received during the year.The total bill was $20,000.Considering the deductible and coinsurance,how much of this amount must Kristen pay?
Multiple Choice
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The effect of an annual out-of-pocket limit in an individual medical expense policy is to
Multiple Choice
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Major defects in the health care system in the United States health care system include I.Rising healthcare expenditures II.Considerable waste and inefficiency in the healthcare system
Multiple Choice
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Which of the following statements regarding health care expenditures in the United States is (are)true? I.As a nation,the U.S.spends significantly more on health care than most other industrialized nations. II.Health care expenditures in the U.S.are high because everyone is covered by a health insurance plan.
Multiple Choice
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All of the following statements about individual disability income policies are true EXCEPT
Multiple Choice
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Prior to passage of the Affordable Care Act,insurers could go back to the date a health insurance policy became effective and render the policy void due to a clerical error.This practice,which is prohibited under the Affordable Care Act except in cases of fraud or intentional misrepresentation of a material fact,is called
Multiple Choice
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Individual medical expense insurance sold in the Health Insurance Marketplace is characterized by which of the following?
Multiple Choice
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One provision of the Affordable Care Act is designed to benefit young adults up to age 26.This provision allows these young adults to
Multiple Choice
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Under the Affordable Care Act,if a health insurer does not meet the minimum medical loss ratio requirement,the insurer must
Multiple Choice
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Which of the following statements about disability and disability income insurance is (are)true? I.Most disability income policies replace 100 percent of gross earnings. II.The probability of being disabled before age 65 is much higher than commonly believed.
Multiple Choice
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Purposes of the coinsurance provision in medical expense insurance policies include which of the following? I.to reduce premiums II.to prevent overutilization of policy benefits
Multiple Choice
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The Affordable Care Act required that most U.S.citizens and legal residents have qualifying health insurance or pay a financial penalty.This provision of the Affordable Care Act was known as the
Multiple Choice
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Under the Affordable Care Act,which of the following statements are true? I.Health insurers cannot use pre-existing conditions exclusions. II.Health insurers cannot impose annual benefit limits and lifetime benefit limits.
Multiple Choice
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Which of the following statements about long-term care insurance is (are)true? I.Long-term care insurance is inexpensive,especially if purchased at older ages. II.Purchasers have a choice of daily benefits and benefit periods.
Multiple Choice
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All of the following are historical reasons for the increase in health care expenditures in the U.S.EXCEPT
Multiple Choice
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