Question 1

Disability income insurance plans can offer benefits

Accepted Answer

A)   For only a few years.
B)   Until age 65.
C)   For life.
D)   All of these are possibilities.
E)   None of these is correct.

Question 2

This health insurance provision sets limits on the amount of repayment for certain services.

Accepted Answer

A)   Assigned benefits
B)   Copayment
C)   Exclusions and limitations
D)   Internal limits
E)   Service benefits

Question 3

Georgia has a health insurance policy that includes a deductible of $600 and a coinsurance of 20%.If her total bill is $4,000,how much will she be required to pay?

Accepted Answer

A)   $400
B)   $600
C)   $1,200
D)   $1,280
E)   $3,400

Question 4

Why is disability income insurance important?

Accepted Answer

Disability income protects against loss ...

Question 5

What are the main differences between FSAs,HRAs,and HSAs?

Accepted Answer

Although all three are plans that allow ...

Question 6

Disability income insurance covers your medical expenses when you are disabled.

Accepted Answer

A) True 
 B)False

Question 7

FSAs and HSAs provide tax advantages for health expenses.

Accepted Answer

A) True 
 B)False

Question 8

If you are concerned that your disability insurer may try to cancel your coverage if your health becomes poor,you should look for a plan that offers

Accepted Answer

A)   Duration of benefits to age 65.
B)   A plan that provides 70-80% of your take-home pay.
C)   Accident and sickness coverage.
D)   Guaranteed renewability.
E)   A short elimination period.

Question 9

The United States has the fifth highest per capita medical expenditures in the world.

Accepted Answer

A) True 
 B)False

Question 10

A disability policy with a longer elimination period typically charges lower premiums than a policy with a short elimination period.

Accepted Answer

A) True 
 B)False

Question 11

Mark was severely injured while on vacation and expects to be unable to work for at least 12 months.Because of his injury,he should expect to be eligible for disability income from

Accepted Answer

A)   A private income insurance program.
B)   Medicaid.
C)   Medicare.
D)   Social Security.
E)   Worker's compensation. D

Question 12

A PPO is another name for an HMO.

Accepted Answer

A) True 
 B)False

Question 13

What is a typical copayment amount for individuals?

Accepted Answer

A)   $0-5
B)   $20-30
C)   $35-50
D)   $75-100
E)   $100-200

Question 14

Which of the following is incorrect?

Accepted Answer

A)   Disability income insurance provides regular cash income when you're unable to work because of a disability.
B)   Disabilities can include pregnancy, a non-work-related accident, or an illness.
C)   The exact definition of disability varies from insurer to insurer.
D)   A bad disability policy pays you if you cannot work at your regular job.
E)   Disability can cause even greater financial problems than death.

Question 15

An employer self-funded health plan requires a low level of financial assets.

Accepted Answer

A) True 
 B)False

Question 16

Monica's employer offers a health insurance plan with a very high deductible.In addition,her employer provides a fund for her to spend specifically on health care.What kind of plan does she have?

Accepted Answer

A)   FSA
B)   HRA
C)   HSA
D)   Medicare
E)   Self-funded health plan

Question 17

What is the primary purpose of medical expense insurance?

Accepted Answer

A)   Protect against death expenses.
B)   Provide payments to make up for some income of a person who cannot work as a result of injury or illness.
C)   Pay actual medical costs for illness or injury.
D)   Pay a salary if an employee is disabled.
E)   Repay loans if an employee cannot work because of illness or injury. C

Question 18

The type of health insurance coverage that takes up where basic health insurance coverage leaves off is

Accepted Answer

A)   Dental expense.
B)   Surgical expense.
C)   Hospital expense.
D)   Physician expense.
E)   Major medical expense. E

Question 19

The type of health insurance coverage that pays for some or all of the daily costs of room and board during a hospital stay is

Accepted Answer

A)   Dental expense.
B)   Surgical expense.
C)   Hospital expense.
D)   Physician expense.
E)   Major medical expense.

Question 20

Which of the following is NOT a type of health insurance available to individuals or employees?

Accepted Answer

A)   Dental expense insurance
B)   Hospital indemnity policy
C)   Dread disease policy
D)   Minor medical indemnity insurance
E)   Vision care insurance

Exam 9: Health and Disability Income Insurance

Disability income insurance plans can offer benefits

Correct AnswerverifiedShow Answer

This health insurance provision sets limits on the amount of repayment for certain services.

Correct AnswerverifiedShow Answer

Georgia has a health insurance policy that includes a deductible of $600 and a coinsurance of 20%.If her total bill is $4,000,how much will she be required to pay?

Correct AnswerverifiedShow Answer

Why is disability income insurance important?

Correct AnswerverifiedDisability income protects against loss ...View AnswerShow Answer

What are the main differences between FSAs,HRAs,and HSAs?

Correct AnswerverifiedAlthough all three are plans that allow ...View AnswerShow Answer

Disability income insurance covers your medical expenses when you are disabled.

Correct AnswerverifiedShow Answer

FSAs and HSAs provide tax advantages for health expenses.

Correct AnswerverifiedShow Answer

If you are concerned that your disability insurer may try to cancel your coverage if your health becomes poor,you should look for a plan that offers

Correct AnswerverifiedShow Answer

The United States has the fifth highest per capita medical expenditures in the world.

Correct AnswerverifiedShow Answer

A disability policy with a longer elimination period typically charges lower premiums than a policy with a short elimination period.

Correct AnswerverifiedShow Answer

Mark was severely injured while on vacation and expects to be unable to work for at least 12 months.Because of his injury,he should expect to be eligible for disability income from

Correct AnswerverifiedD

A PPO is another name for an HMO.

Correct AnswerverifiedShow Answer

What is a typical copayment amount for individuals?

Correct AnswerverifiedShow Answer

Which of the following is incorrect?

Correct AnswerverifiedShow Answer

An employer self-funded health plan requires a low level of financial assets.

Correct AnswerverifiedShow Answer

Monica's employer offers a health insurance plan with a very high deductible.In addition,her employer provides a fund for her to spend specifically on health care.What kind of plan does she have?

Correct AnswerverifiedShow Answer

What is the primary purpose of medical expense insurance?

Correct AnswerverifiedC

The type of health insurance coverage that takes up where basic health insurance coverage leaves off is

Correct AnswerverifiedE

The type of health insurance coverage that pays for some or all of the daily costs of room and board during a hospital stay is

Correct AnswerverifiedShow Answer

Which of the following is NOT a type of health insurance available to individuals or employees?

Correct AnswerverifiedShow Answer

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Disability income protects against loss ...
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Although all three are plans that allow ...
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D

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C

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E

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