HFMA BOH Exam | Questions with 100% Correct
Answers | Verified | Latest Update 2026
Save
Terms in this set (109)
What is indemnity insurance? An insurance policy designed to protect
professionals and business owners when they are
found to be at fault for a specific event such as
misjudgment.
What is a deductible? The amount you pay each year for eligible medical
services or medicines before your insurance plan
kicks in.
What is a copay? A flat fee that you pay on the spot each time you
go to your doctor or fill a prescription.
What is coinsurance? A portion of medical cost that you pay after hitting
your deductible, where you and your insurance
carrier each pay a share of eligible costs.
What is Medicare Part A? A program funded primarily by Medicare taxes
paid by current workers to cover costs for
beneficiaries, typically US citizens over 65,
disabled, or those with ESRD.
What is Medicare Part B? A voluntary insurance program for those meeting
Medicare requirements, funded by a combination
of patient premiums and Medicare tax funds.
, What is Medicare Part D? A program that covers outpatient prescription
medicines for persons otherwise eligible for
Medicare benefits.
What does PPACA stand for? Patient Protection and Affordable Care Act.
What are the three goals of the Reducing cost, increasing quality outcomes, and
PPACA? increasing patient satisfaction.
What is the Medical-Loss Ratio A requirement that limits the portion of premium
(MLR)? dollars health insurers may spend on
administration, marketing, and profits.
What is the individual mandate in the A requirement that most Americans have a basic
Affordable Care Act? level of health insurance coverage or face a tax
penalty.
What is the employer mandate? A requirement that businesses with 50 or more full-
time equivalent employees provide health
insurance to at least 95% of their full-time
employees and dependents up to age 26 or pay a
fee.
What is a health insurance An organization set up to facilitate the purchase of
exchange? government-regulated and standardized health
care plans eligible for federal subsidies.
What is an Accountable Care A group of doctors, hospitals, and other health
Organization (ACO)? care providers who come together voluntarily to
give coordinated high-quality care to Medicare
patients.
Answers | Verified | Latest Update 2026
Save
Terms in this set (109)
What is indemnity insurance? An insurance policy designed to protect
professionals and business owners when they are
found to be at fault for a specific event such as
misjudgment.
What is a deductible? The amount you pay each year for eligible medical
services or medicines before your insurance plan
kicks in.
What is a copay? A flat fee that you pay on the spot each time you
go to your doctor or fill a prescription.
What is coinsurance? A portion of medical cost that you pay after hitting
your deductible, where you and your insurance
carrier each pay a share of eligible costs.
What is Medicare Part A? A program funded primarily by Medicare taxes
paid by current workers to cover costs for
beneficiaries, typically US citizens over 65,
disabled, or those with ESRD.
What is Medicare Part B? A voluntary insurance program for those meeting
Medicare requirements, funded by a combination
of patient premiums and Medicare tax funds.
, What is Medicare Part D? A program that covers outpatient prescription
medicines for persons otherwise eligible for
Medicare benefits.
What does PPACA stand for? Patient Protection and Affordable Care Act.
What are the three goals of the Reducing cost, increasing quality outcomes, and
PPACA? increasing patient satisfaction.
What is the Medical-Loss Ratio A requirement that limits the portion of premium
(MLR)? dollars health insurers may spend on
administration, marketing, and profits.
What is the individual mandate in the A requirement that most Americans have a basic
Affordable Care Act? level of health insurance coverage or face a tax
penalty.
What is the employer mandate? A requirement that businesses with 50 or more full-
time equivalent employees provide health
insurance to at least 95% of their full-time
employees and dependents up to age 26 or pay a
fee.
What is a health insurance An organization set up to facilitate the purchase of
exchange? government-regulated and standardized health
care plans eligible for federal subsidies.
What is an Accountable Care A group of doctors, hospitals, and other health
Organization (ACO)? care providers who come together voluntarily to
give coordinated high-quality care to Medicare
patients.
