Tennessee Health Insurance Questions
with Detailed Verified Answers for
Accuracy
Health Insurance
✓✓ Covers the risk of loss caused by a "living death"; after
sustaining an accidental injury or sickness, medical expenses
must be paid in addition to the normal living expenses
Basic Types of Losses and Benefits for Health Insurance
✓✓ - Loss of income from disability
- Medical expense
- Dental expense
- Long-term care expense
Disability Income
✓✓ Occurs when an accidental injury or sickness prevents an
insured from being able to work; replaces income lost while the
insured is unable to work; benefits are valued (a stated amount)
based on a % of the insured's lost income; only covers the
insured
Medical Expense Insurance
✓✓ Covers the cost of medical treatments, physician's fees,
hospitalization, and other medical costs that ensue when the
insured incurs an accidental injury or sickness; may cover the
insured and their dependents
Franchise Insurance
pg. 1
, ✓✓ Provides coverage for small groups that are not large enough
to apply for group coverage; each individual undergoes individual
underwriting
Medicare
✓✓ Provides health insurance coverage for individuals over the
age of 65; also covers ESRD (renal failure) and Lou Gehrig's
disease
Medicaid
✓✓ A state and federally funded medical assistance program for
financially disadvantaged individuals; welfare program operated
by each individual state; covers for medical care and services that
Medicare only partially covers, including nursing home and home
health care
TRICARE
✓✓ Provides health insurance coverage to active duty and retired
members of the uniformed services and their dependents;
replaced CHAMPUS; 3 types of plans: prime (least costly;
organized like HMO), extra (receive medical care through a PPO
arrangement), and standard (receive medical care from any
provider; more expensive).
Renewability Classes
✓✓ - Cancellable
- Optionally renewable
- Conditionally renewable
- Guaranteed renewable
- Non-cancellable
Factors Affecting Health Insurance Premiums
pg. 2
with Detailed Verified Answers for
Accuracy
Health Insurance
✓✓ Covers the risk of loss caused by a "living death"; after
sustaining an accidental injury or sickness, medical expenses
must be paid in addition to the normal living expenses
Basic Types of Losses and Benefits for Health Insurance
✓✓ - Loss of income from disability
- Medical expense
- Dental expense
- Long-term care expense
Disability Income
✓✓ Occurs when an accidental injury or sickness prevents an
insured from being able to work; replaces income lost while the
insured is unable to work; benefits are valued (a stated amount)
based on a % of the insured's lost income; only covers the
insured
Medical Expense Insurance
✓✓ Covers the cost of medical treatments, physician's fees,
hospitalization, and other medical costs that ensue when the
insured incurs an accidental injury or sickness; may cover the
insured and their dependents
Franchise Insurance
pg. 1
, ✓✓ Provides coverage for small groups that are not large enough
to apply for group coverage; each individual undergoes individual
underwriting
Medicare
✓✓ Provides health insurance coverage for individuals over the
age of 65; also covers ESRD (renal failure) and Lou Gehrig's
disease
Medicaid
✓✓ A state and federally funded medical assistance program for
financially disadvantaged individuals; welfare program operated
by each individual state; covers for medical care and services that
Medicare only partially covers, including nursing home and home
health care
TRICARE
✓✓ Provides health insurance coverage to active duty and retired
members of the uniformed services and their dependents;
replaced CHAMPUS; 3 types of plans: prime (least costly;
organized like HMO), extra (receive medical care through a PPO
arrangement), and standard (receive medical care from any
provider; more expensive).
Renewability Classes
✓✓ - Cancellable
- Optionally renewable
- Conditionally renewable
- Guaranteed renewable
- Non-cancellable
Factors Affecting Health Insurance Premiums
pg. 2
