Medical Expense Insurance Test Questions and Answers All Correct

Medical Expense Insurance Test Questions and Answers All Correct All of the following plans allow for employee contributions to be taken on a pre-tax basis EXCEPT - ANSWER Health Reimbursement Arrangement Plan Kate has a Major Medical Plan with a 75/25 coinsurance and a deductible of $25. How much will she have to pay if she, not having met any of her deductible, visits the doctor and receives a bill for $125? - ANSWER $50.00 The focus of major medical insurance is providing coverage for - ANSWER medical and hospitalization expenses 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? - ANSWER $700 A pharmacy benefit covers prescription drugs derived from a list called a(n) - ANSWER drug formulary How is a health provider reimbursed if they do NOT have an agreement in place with the insurance company? - ANSWER With a usual, customary, and reasonable fee Which type of coverage pays an amount per day for hospitalization directly to the insured regardless of the insured's other health insurance? - ANSWER Hospital indemnity An insured has a health plan that pays established amounts in accordance with a list of injuries, surgical procedures, or other losses. This list is called a - ANSWER benefit schedule A dread disease policy is considered to be a type of - ANSWER limited health insurance policy What type of policy would only provide coverage for specific types of illnesses (cancer, stroke, etc)? - ANSWER Dread disease insurance