HFMA BOH Exam Questions and Answers
with Verified Solutions | Latest Updated 2026
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
PPACA? outcomes, and
increasing patient satisfaction.
What is the Medical-Loss Ratio A requirement that limits the portion of
(MLR)? premium
dollars health insurers may spend on
administration, marketing, and profits.
, What is the individual mandate in A requirement that most Americans have a
the 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
exchange? purchase of
government-regulated and standardized
health
care plans eligible for federal subsidies.
What is an Accountable Care A group of doctors, hospitals, and other
Organization (ACO)? health
care providers who come together
voluntarily to
give coordinated high-quality care to
Medicare
patients.
with Verified Solutions | Latest Updated 2026
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
PPACA? outcomes, and
increasing patient satisfaction.
What is the Medical-Loss Ratio A requirement that limits the portion of
(MLR)? premium
dollars health insurers may spend on
administration, marketing, and profits.
, What is the individual mandate in A requirement that most Americans have a
the 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
exchange? purchase of
government-regulated and standardized
health
care plans eligible for federal subsidies.
What is an Accountable Care A group of doctors, hospitals, and other
Organization (ACO)? health
care providers who come together
voluntarily to
give coordinated high-quality care to
Medicare
patients.
