Question 1

Long-term care insurance can cover both nursing home and home health care.

Accepted Answer

A) True 
 B)False

Question 2

Your right to continue a health insurance policy if you choose is known as

Accepted Answer

A)   policy exclusions.
B)   persons covered.
C)   continuation.
D)   duration of benefits.
E)   renewability.F) A) and D)
G) C) and D)

Question 3

Typically group health insurance plans provide substantially less comprehensive coverage than the average individually underwritten policy.

Accepted Answer

A) True 
 B)False

Question 4

Which of the following best describes a custodial care facility?

Accepted Answer

A)   a place that combines apartment-style living with prepared meals,housekeeping,and personal care services.
B)   a place that provides regular assistance with such activities as transferring someone from a bed to a chair,or helping them take a bath or get dressed.
C)   a place with licensed medical professionals that assist residents regularly with medically necessary care.
D)   a place that provides regular assistance with chronic health conditions that are acute in nature.
E)   custodial care is best provided in a hospital where surgical facilities are always available.F) A) and E)
G) B) and E)

Question 5

INSTRUCTIONS: Choose the word or phrase in [ ] which will correctly complete the statement. 
-An individual receiving health care [could | could not] receive multiple payments from more than one insurance company for this care.

Accepted Answer

A)  for the first item
B)  for the second item
C)  if neither item will correctly complete the statement.D) A) and B)
E) A) and C)

Question 6

All Americans are required to have or buy health insurance beginning in 2014 or pay a penalty.

Accepted Answer

A) True 
 B)False

Question 7

Which of the following statements is true about the means (income) testing for Medicare?

Accepted Answer

A)   there are strictly enforced income limits that are based on federal standards but may vary slightly by state.
B)   limits apply to the amount of counted assets individuals can have,but they are routinely overlooked.
C)   means testing is intended to ensure that only the truly needy get access to Medicare.
D)   there is an asset test and an income test.
E)   Medicare is not income tested.F) A) and B)
G) None of the above

Question 8

INSTRUCTIONS: Choose the word or phrase in [ ] which will correctly complete the statement. 
-The U.S.spends about [17% | 24%] of our economic output on health care.

Accepted Answer

A)  for the first item
B)  for the second item
C)  if neither item will correctly complete the statement.D) A) and B)
E) All of the above

Question 9

INSTRUCTIONS: Choose the word or phrase in [ ] which will correctly complete the statement. 
-[The government | Individuals] pay(s) a larger share of personal health care expenses than private health insurance.

Accepted Answer

A)  for the first item
B)  for the second item
C)  if neither item will correctly complete the statement.D) A) and B)
E) A) and C)

Question 10

Starting in 2014,the Affordable Care Act requires insurance companies to set premiums based on all the following except

Accepted Answer

A)   Family size
B)   Where you live
C)   Tobacco use
D)   Gender
E)   AgeF) A) and B)
G) B) and C)

Question 11

Disability income insurance provides benefits that are designed to

Accepted Answer

A)   pay for hospital care costs from injuries.
B)   substitute for lost income.
C)   cover hospital care costs from illness.
D)   substitute for social security disability benefits.
E)   supplement retirement income for the elderly.F) D) and E)
G) C) and E)

Question 12

When you are hospitalized for surgical care,surgical expense coverage will pay the hospital bill.

Accepted Answer

A) True 
 B)False

Question 13

Surgical expenses now generally are reimbursed on the basis of

Accepted Answer

A)   actual surgical expense.
B)   listed benefit schedules.
C)   specific percentage of actual surgical expense.
D)   average national cost of the surgery.
E)   usual,reasonable and customary expenses.F) C) and D)
G) D) and E)

Question 14

Nick has a comprehensive health care policy with a $250 per calendar year deductible and 80%-20% with a maximum $1,000 copayment cap per calendar year.In January,Nick had a $600 claim which the insurance company paid $280.Nick experiences another unrelated claim in October resulting in total bills of $5,000.How much will Nick have to pay for the second claim?

Accepted Answer

A)   $5,000
B)   $3,930.
C)   $1,800
D)   $ 930.
E)   none of the above.F) B) and D)
G) C) and D)

Question 15

INSTRUCTIONS: Choose the word or phrase in [ ] which will correctly complete the statement. 
-You would be more likely to receive [70 | 90] percent of your pre-disability income from a disability income policy.

Accepted Answer

A)  for the first item
B)  for the second item
C)  if neither item will correctly complete the statement.D) None of the above
E) All of the above

Question 16

Insurers are required to cover people with pre-existing medical conditions without limiting or setting unrealistically high insurance rates.

Accepted Answer

A) True 
 B)False

Question 17

The insurance designed to help with nursing home or in-home care due to chronic illness is called

Accepted Answer

A)   Medicare.
B)   major medical.
C)   comprehensive major medical.
D)   nursing home care.
E)   long term care.F) All of the above
G) A) and E)

Question 18

Increasing the deductible is likely to lower the premium on a comprehensive major medical policy.

Accepted Answer

A) True 
 B)False

Question 19

INSTRUCTIONS: Choose the word or phrase in [ ] which will correctly complete the statement. 
-Scheduled surgical benefits tend to be [very close to | way below] what most surgeons will charge.

Accepted Answer

A)  for the first item
B)  for the second item
C)  if neither item will correctly complete the statement.D) All of the above
E) None of the above

Question 20

Advances in medical technology,prescriptions drugs and treatments have substantially reduced the costs health care in recent decades.

Accepted Answer

A) True 
 B)False

Exam 9: Insuring Your Health

INSTRUCTIONS: Choose the word or phrase in [ ] which will correctly complete the statement. -[The government | Individuals] pay(s) a larger share of personal health care expenses than private health insurance.

Correct Answer
verified

Long-term care insurance can cover both nursing home and home health care.

Correct Answer
verified

Which of the following best describes a custodial care facility?

Correct Answer
verified

Insurers are required to cover people with pre-existing medical conditions without limiting or setting unrealistically high insurance rates.

Correct Answer
verified

Correct Answer
verified

The insurance designed to help with nursing home or in-home care due to chronic illness is called

Correct Answer
verified

When you are hospitalized for surgical care,surgical expense coverage will pay the hospital bill.

Correct Answer
verified

Surgical expenses now generally are reimbursed on the basis of

Correct Answer
verified

INSTRUCTIONS: Choose the word or phrase in [ ] which will correctly complete the statement. -You would be more likely to receive [70 | 90] percent of your pre-disability income from a disability income policy.

Correct Answer
verified

Advances in medical technology,prescriptions drugs and treatments have substantially reduced the costs health care in recent decades.

Correct Answer
verified

Disability income insurance provides benefits that are designed to

Correct Answer
verified

Starting in 2014,the Affordable Care Act requires insurance companies to set premiums based on all the following except

Correct Answer
verified

Your right to continue a health insurance policy if you choose is known as

Correct Answer
verified

INSTRUCTIONS: Choose the word or phrase in [ ] which will correctly complete the statement. -Scheduled surgical benefits tend to be [very close to | way below] what most surgeons will charge.

Correct Answer
verified

Increasing the deductible is likely to lower the premium on a comprehensive major medical policy.

Correct Answer
verified

INSTRUCTIONS: Choose the word or phrase in [ ] which will correctly complete the statement. -The U.S.spends about [17% | 24%] of our economic output on health care.

Correct Answer
verified

All Americans are required to have or buy health insurance beginning in 2014 or pay a penalty.

Correct Answer
verified

INSTRUCTIONS: Choose the word or phrase in [ ] which will correctly complete the statement. -An individual receiving health care [could | could not] receive multiple payments from more than one insurance company for this care.

Correct Answer
verified

Which of the following statements is true about the means (income) testing for Medicare?

Correct Answer
verified

Typically group health insurance plans provide substantially less comprehensive coverage than the average individually underwritten policy.

Correct Answer
verified

Exam 9: Insuring Your Health

INSTRUCTIONS: Choose the word or phrase in [ ] which will correctly complete the statement. -[The government | Individuals] pay(s) a larger share of personal health care expenses than private health insurance.

Correct AnswerverifiedShow Answer

Long-term care insurance can cover both nursing home and home health care.

Correct AnswerverifiedShow Answer

Which of the following best describes a custodial care facility?

Correct AnswerverifiedShow Answer

Insurers are required to cover people with pre-existing medical conditions without limiting or setting unrealistically high insurance rates.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

The insurance designed to help with nursing home or in-home care due to chronic illness is called

Correct AnswerverifiedShow Answer

When you are hospitalized for surgical care,surgical expense coverage will pay the hospital bill.

Correct AnswerverifiedShow Answer

Surgical expenses now generally are reimbursed on the basis of

Correct AnswerverifiedShow Answer

INSTRUCTIONS: Choose the word or phrase in [ ] which will correctly complete the statement. -You would be more likely to receive [70 | 90] percent of your pre-disability income from a disability income policy.

Correct AnswerverifiedShow Answer

Advances in medical technology,prescriptions drugs and treatments have substantially reduced the costs health care in recent decades.

Correct AnswerverifiedShow Answer

Disability income insurance provides benefits that are designed to

Correct AnswerverifiedShow Answer

Starting in 2014,the Affordable Care Act requires insurance companies to set premiums based on all the following except

Correct AnswerverifiedShow Answer

Your right to continue a health insurance policy if you choose is known as

Correct AnswerverifiedShow Answer

INSTRUCTIONS: Choose the word or phrase in [ ] which will correctly complete the statement. -Scheduled surgical benefits tend to be [very close to | way below] what most surgeons will charge.

Correct AnswerverifiedShow Answer

Increasing the deductible is likely to lower the premium on a comprehensive major medical policy.

Correct AnswerverifiedShow Answer

INSTRUCTIONS: Choose the word or phrase in [ ] which will correctly complete the statement. -The U.S.spends about [17% | 24%] of our economic output on health care.

Correct AnswerverifiedShow Answer

All Americans are required to have or buy health insurance beginning in 2014 or pay a penalty.

Correct AnswerverifiedShow Answer

INSTRUCTIONS: Choose the word or phrase in [ ] which will correctly complete the statement. -An individual receiving health care [could | could not] receive multiple payments from more than one insurance company for this care.

Correct AnswerverifiedShow Answer

Which of the following statements is true about the means (income) testing for Medicare?

Correct AnswerverifiedShow Answer

Typically group health insurance plans provide substantially less comprehensive coverage than the average individually underwritten policy.

Correct AnswerverifiedShow Answer

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