Actuarial Science

What are some categories of poor health that can cause economic insecurity? - correct answers Among the elderly Due to medical reasons Due to a disability What are some needs that arise when someone is sick or in need of medical treatment? - correct answers Hospitalization Treatment from a medical practitioner Drugs Other medical needs Additional health needs (such as dental and vision care) What can happen when the cost of these health needs is not covered by insurance? - correct answers Private savings must cover the cost What are the three sources of health benefits? - correct answers Government - provincial plans Employer - group benefit plans Individual - individual health insurance What are some components of extended health care (EHC) plans offered by employers? - correct answers Prescription drugs Hospital coverage Medical services and supplies Out-of-country coverage Vision care What are some cost drivers for extended health care (EHC) plans? - correct answers Prescription drug costs Changing demographics Government cost shifting Obesity What are some major areas of coverage in dental plans offered by employers? - correct answers Basic services Supplementary basic services Major services Orthodontics What are some cost containment strategies for dental plans? - correct answers High coinsurance on basic services Lower coinsurance on major services or orthodontics Pre-treatment review Use of suggested fee guide produced by dental association of each province Who typically purchases individual health insurance? - correct answers Self-employed individuals Employees when company health benefits change Those in poorer health What are some government programs that provide benefits for disability due to sickness or injury? - correct answers C/QPP Disability Pension Employment Insurance Workers Compensation Program