Question 1

As a result of the health care reform Patient Protection and Affordable Health Care Act a child may stay on a parent's health care plan until age
​

Accepted Answer

A)   ​18.
B)   ​21 or graduating from college whichever comes sooner.
C)   ​21 or graduating from college whichever comes later.
D)   ​26.E) A) and B)
F) None of the above

Question 2

A student who has lost group health care coverage under his or her parent's employer group plan due to the parent leaving the job is eligible to continue coverage through COBRA rights.

Accepted Answer

A) True 
 B)False

Question 3

You can help yourself afford a longer benefit period under a disability income insurance plan by selecting a longer​

Accepted Answer

A)   ​waiting period.
B)   ​cost-of-living period.
C)   ​recurring period.
D)   ​Social Security period.E) B) and D)
F) All of the above

Question 4

Which of the following government programs is jointly funded by federal and state governments?​

Accepted Answer

A)   ​Social Security disability income
B)   ​Medicare
C)   ​Medicaid
D)   ​Veterans Administration hospitalsE) B) and C)
F) A) and B)

Question 5

A legal document that directs life support measures,such as a respirator,to be removed is called a​

Accepted Answer

A)   ​letter of last instructions.
B)   ​health care power of attorney.
C)   ​durable power of attorney.
D)   ​living will.E) A) and D)
F) A) and C)

Question 6

Young adults may stay on a parent's health care plans until age 22 or graduating from college whichever comes first.

Accepted Answer

A) True 
 B)False

Question 7

Persons who have a high-deductible health plan can make tax-sheltered deposits into an investment account called a _______ from which they can pay medical expenses.

Accepted Answer

A)   ​individual health account
B)   ​health savings account
C)   ​tax-sheltered annuity
D)   ​itemized deduction planE) B) and D)
F) A) and B)

Question 8

Will is concerned that his monthly disability income benefit would be eroded by inflation in case of a long-term disability.Which policy provision would guard against this problem?​

Accepted Answer

A)   ​Residual clause
B)   ​Social Security rider
C)   ​Cost-of-living adjustments
D)   ​Benefit periodE) C) and D)
F) All of the above

Question 9

______ provide(s) preventative care as well as other types of care for a set monthly fee which is considered to be advance payment for the care received.

Accepted Answer

A)   ​Traditional health insurance
B)   ​Consumer-driven health insurance
C)   ​Health maintenance organization (HMO) 
D)   ​Preferred provider organization (PPO) E) C) and D)
F) None of the above

Question 10

A copayment differs from a deductible in that the copayment typically requires you to pay a specific dollar amount each time you have a specific covered expense item.

Accepted Answer

A) True 
 B)False

Question 11

Traditional health insurance plans are often referred to as basic indemnity plans.

Accepted Answer

A) True 
 B)False

Question 12

The dollar-amount of benefits under a long-term care insurance plan is on a per-_____ basis.

Accepted Answer

A)   ​day
B)   ​week
C)   ​month
D)   ​yearE) None of the above
F) A) and B)

Question 13

Drawbacks of an HMO include​

Accepted Answer

A)   ​limited choice of physicians.
B)   ​no coverage for preventive treatments.
C)   ​limited availability through group plans.
D)   ​higher deductibles and copayments compared to other plans.E) A) and D)
F) All of the above

Question 14

Which of the following is a general term used to describe an HMO,health insurance or another plan that pays for or provides reimbursement for direct health care expenditures? A legal document that directs life support measures,such as a respirator,to be removed is called​

Accepted Answer

A)   ​hospitalization.
B)   ​​Medicare.
C)   ​health insurance.
D)   ​a health care plan.E) All of the above
F) B) and C)

Question 15

Open enrollment period requirements are generally waived for such family changes as​

Accepted Answer

A)   ​births.
B)   ​adoptions.
C)   ​marriages.
D)   ​All of these.E) A) and B)
F) None of the above

Question 16

A person who wants to continue health insurance coverage through your COBRA rights must​

Accepted Answer

A)   ​apply within 30 days of losing group status.
B)   ​pay the full premiums plus a 2 percent administrative fee.
C)   ​agree to pay for the coverage for at least 18 months.
D)   ​take a six-month waiting period.E) A) and B)
F) None of the above

Question 17

Medicare (Part A)covers prescription drugs.

Accepted Answer

A) True 
 B)False

Question 18

To make it possible for consumers to comply with the individual mandate to buy health insurance the Affordable Care Act established ______ run by their states or the federal government.

Accepted Answer

A)   ​health insurance exchanges
B)   ​health maintenance organizations
C)   ​Medicaid
D)   ​MedicareE) C) and D)
F) All of the above

Question 19

Combining a health savings account with a high deductible health care plan is a way to save money on the cost of a health care plan.

Accepted Answer

A) True 
 B)False

Question 20

Medicare Part B covers all of the following except

Accepted Answer

A)   ​outpatient care.
B)   ​doctor office visits.
C)   ​chiropractic services.
D)   ​hospitalization.E) B) and C)
F) A) and D)

Exam 11: Managing Health Expenses

A student who has lost group health care coverage under his or her parent's employer group plan due to the parent leaving the job is eligible to continue coverage through COBRA rights.

Correct AnswerverifiedShow Answer

Medicare (Part A)covers prescription drugs.

Correct AnswerverifiedShow Answer

The dollar-amount of benefits under a long-term care insurance plan is on a per-_____ basis.

Correct AnswerverifiedShow Answer

Open enrollment period requirements are generally waived for such family changes as​

Correct AnswerverifiedShow Answer

To make it possible for consumers to comply with the individual mandate to buy health insurance the Affordable Care Act established ______ run by their states or the federal government.

Correct AnswerverifiedShow Answer

A copayment differs from a deductible in that the copayment typically requires you to pay a specific dollar amount each time you have a specific covered expense item.

Correct AnswerverifiedShow Answer

A person who wants to continue health insurance coverage through your COBRA rights must​

Correct AnswerverifiedShow Answer

You can help yourself afford a longer benefit period under a disability income insurance plan by selecting a longer​

Correct AnswerverifiedShow Answer

Will is concerned that his monthly disability income benefit would be eroded by inflation in case of a long-term disability.Which policy provision would guard against this problem?​

Correct AnswerverifiedShow Answer

Medicare Part B covers all of the following except

Correct AnswerverifiedShow Answer

Persons who have a high-deductible health plan can make tax-sheltered deposits into an investment account called a _______ from which they can pay medical expenses.

Correct AnswerverifiedShow Answer

Combining a health savings account with a high deductible health care plan is a way to save money on the cost of a health care plan.

Correct AnswerverifiedShow Answer

A legal document that directs life support measures,such as a respirator,to be removed is called a​

Correct AnswerverifiedShow Answer

Drawbacks of an HMO include​

Correct AnswerverifiedShow Answer

Which of the following government programs is jointly funded by federal and state governments?​

Correct AnswerverifiedShow Answer

______ provide(s) preventative care as well as other types of care for a set monthly fee which is considered to be advance payment for the care received.

Correct AnswerverifiedShow Answer

Traditional health insurance plans are often referred to as basic indemnity plans.

Correct AnswerverifiedShow Answer

Young adults may stay on a parent's health care plans until age 22 or graduating from college whichever comes first.

Correct AnswerverifiedShow Answer

Which of the following is a general term used to describe an HMO,health insurance or another plan that pays for or provides reimbursement for direct health care expenditures? A legal document that directs life support measures,such as a respirator,to be removed is called​

Correct AnswerverifiedShow Answer

As a result of the health care reform Patient Protection and Affordable Health Care Act a child may stay on a parent's health care plan until age ​

Correct AnswerverifiedShow Answer

Correct Answer
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Correct Answer
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Open enrollment period requirements are generally waived for such family changes as

Correct Answer
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Correct Answer
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Correct Answer
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A person who wants to continue health insurance coverage through your COBRA rights must

Correct Answer
verified

You can help yourself afford a longer benefit period under a disability income insurance plan by selecting a longer

Correct Answer
verified

Will is concerned that his monthly disability income benefit would be eroded by inflation in case of a long-term disability.Which policy provision would guard against this problem?

Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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A legal document that directs life support measures,such as a respirator,to be removed is called a

Correct Answer
verified

Drawbacks of an HMO include

Correct Answer
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Which of the following government programs is jointly funded by federal and state governments?

Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Which of the following is a general term used to describe an HMO,health insurance or another plan that pays for or provides reimbursement for direct health care expenditures? A legal document that directs life support measures,such as a respirator,to be removed is called

Correct Answer
verified

As a result of the health care reform Patient Protection and Affordable Health Care Act a child may stay on a parent's health care plan until age

Correct Answer
verified