XCEL Chapter 7 - Medical Expense Insurance questions and answers 100% verified.

XCEL Chapter 7 - Medical Expense Insurance questions and answers 100% verified. A fee for service health insurance plan will normally cover - correct answers.a disease A proposed insured for a health insurance policy was treated for heart disease within the past year. When applying for health insurance, the heart disease treatment - correct ates a preexisting condition Which of the following is NOT included under a health benefit plan? - correct answers.Hospital indemnity plan Distributions from a Health Savings Account (HSA) for qualified medical expenses are - correct -free major medical insurance will typically cover medical expenses that result from - correct answers.a negative reaction to prescribed medication A health insurance policy will typically cover - correct ntative health services Medical Expense Insurance would cover - correct injury occurring at the insured's residence How is a health provider reimbursed if they do NOT have an agreement in place with the insurance company? - correct answers.With a usual, customary, and reasonable fee Ted has a health insurance plan that requires him to pay a specific sum out of pocket before any benefits are paid in a calendar year. Which of these does his health plan have? - correct dar-year deductible Kim has health insurance with a deductible of $500 and an 80/20 coinsurance. How much will she pay if she incurs a loss of $1,500? - correct answers.$700 All of the following plans allow for employee contributions to be taken on a pre-tax basis EXCEPT - correct answers.Health Reimbursement Arrangement Plan Jennifer is required to pay a specific sum out of pocket before any benefits are paid in a year. Her health policy most likely contains a(n) - correct tible "Maximum benefits" refers to the - correct limit of the total lifetime benefits the insurance company will pay A policyholder has a major medical plan with a 80%/20% coinsurance and a deductible of $75. If the insured has previously met her deductible and receives a bill for $175, how much will the insurer pay? - correct answers.$140. Because the insured has previously met her deductible, the eligible expenses for a claim is the entire $175. The insurance company pays 80% of $175, or $140. All of these are characteristics of a major medical expense policy EXCEPT - correct nation period Low frequency diseases can be exclusively covered by what kind of health insurance policies? - correct answers.Limited policies When an insured has a major medical plan with first dollar coverage, how does this impact the benefits paid? - correct answers.No deductible payment is required Which of the following statements is NOT true regarding a Critical Illness Plan? - correct answers.Coverage is limited to a single devastating disease An insured has a stop-loss limit of $5,000, a deductible of $500, and an 80/20 coinsurance. The insured incurs $25,000 of covered losses. How much will the insured have to pay? - correct answers.$5000 An indemnity plan - correct des the insured a specific dollar amount for services An insured under a Major Medical expense plan with a zero deductible and 80/20 coinsurance provision files a $1,000 claim. How much of this claim is the insured responsible for? - correct answers.$200 The elimination period under a hospital indemnity plan is - correct specified number of days an insured must wait before becoming eligible to receive benefits for each hospitalization A payment system for health care in which the provider is paid for each service given is called - correct -for-service A pharmacy benefit covers prescription drugs derived from a list called a(n) - correct formulary