ACCIDENT AND HEALTH INSURANCE
EXAM PREP SOLVED QUESTIONS
ACCURATE ANSWERS PREMIUM REVIEW
◉ 2 ways to purchase health insurance
Answer: group plan & individual plan
◉ 2 perils of health insurance
Answer: sickness & accident
◉ 2 kinds of losses in health insurance
Answer: medical bills & lost income
◉ 2 types of health insurance policies
Answer: medical expense policies & disability income policies
◉ Medical Expense Policies pay:
Answer: the doctors, nurses, hospitals
◉ Disability Income Policies pay:
Answer: insured as replacement check
,◉ Medical Expense
Answer: Which Health Insurance policy?
-whole family covered
-paid immediately
- no guaranteed premiums (adjustable)
- dollar deductible
◉ Disability Income
Answer: Which Health Insurance Policy?
- wage earner covered
- paid monthly or bi-weekly according to paychecks
- guaranteed premiums
- deductible = elimination period
◉ Elimination Period
Answer: time without benefits
◉ Deductible
Answer: Amount you must pay before you begin receiving any
benefits from your insurance company
◉ Blue Cross/Blue Shield
, Answer: Prepaid medical benefits for "subscribers" @ approved
facilities; many non-profit.
◉ Health Maintenance Organization (HMO)
Answer: an organization that provides comprehensive medical
care to subscribers for a fixed fee
-early treatment
-preventive medicine
- out-patient treatment
◉ Preferred Provider Organization (PPO)
Answer: a group of doctors and hospitals that agree to provide
health care at rates approved by the insurer
- fee-for-service basis
◉ Managed Care
Answer: Primary care physicians acting as gate keepers
◉ Preventive Care
Answer: alternatives to hospitals (surgical centers & hospices)
◉ High Deductible Health Plan (HDHP)
Answer: A health insurance policy that requires the policyholder
to pay more out-of-pocket medical expenses but usually has lower
premiums than traditional health insurance plans.
EXAM PREP SOLVED QUESTIONS
ACCURATE ANSWERS PREMIUM REVIEW
◉ 2 ways to purchase health insurance
Answer: group plan & individual plan
◉ 2 perils of health insurance
Answer: sickness & accident
◉ 2 kinds of losses in health insurance
Answer: medical bills & lost income
◉ 2 types of health insurance policies
Answer: medical expense policies & disability income policies
◉ Medical Expense Policies pay:
Answer: the doctors, nurses, hospitals
◉ Disability Income Policies pay:
Answer: insured as replacement check
,◉ Medical Expense
Answer: Which Health Insurance policy?
-whole family covered
-paid immediately
- no guaranteed premiums (adjustable)
- dollar deductible
◉ Disability Income
Answer: Which Health Insurance Policy?
- wage earner covered
- paid monthly or bi-weekly according to paychecks
- guaranteed premiums
- deductible = elimination period
◉ Elimination Period
Answer: time without benefits
◉ Deductible
Answer: Amount you must pay before you begin receiving any
benefits from your insurance company
◉ Blue Cross/Blue Shield
, Answer: Prepaid medical benefits for "subscribers" @ approved
facilities; many non-profit.
◉ Health Maintenance Organization (HMO)
Answer: an organization that provides comprehensive medical
care to subscribers for a fixed fee
-early treatment
-preventive medicine
- out-patient treatment
◉ Preferred Provider Organization (PPO)
Answer: a group of doctors and hospitals that agree to provide
health care at rates approved by the insurer
- fee-for-service basis
◉ Managed Care
Answer: Primary care physicians acting as gate keepers
◉ Preventive Care
Answer: alternatives to hospitals (surgical centers & hospices)
◉ High Deductible Health Plan (HDHP)
Answer: A health insurance policy that requires the policyholder
to pay more out-of-pocket medical expenses but usually has lower
premiums than traditional health insurance plans.
