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Chapter Quiz
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1
A way to obtain health insurance is by:
A)Electing to have medical coverage with your auto insurance
B)Electing to have coverage through your homeowner's or renter's insurance.
C)Electing to purchase it yourself with an individual policy.
D)Carrying life insurance
2
COBRA insurance is for:
A)People who have lost their jobs
B)Low income people on welfare
C)Children whose parents do not have insurance
D)People over the age of 65
3
A set amount that the policyholder must pay before insurance will pay for medical expenses is called:
A)Coinsurance
B)Copayment
C)Stop-loss
D)Deductible
4
The difference between a copayment and coinsurance is that with:
A)A copayment you pay a certain percentage of the costs and with coinsurance you pay a set dollar amount for each service.
B)Coinsurance you pay a certain percentage of the costs and with a copayment you pay a set dollar amount for each service.
C)A copayment is what you pay with group policies and coinsurance is what you pay with individual policies.
D)Coinsurance is what you pay with group policies and copayment is what you pay with individual policies.
5
A policy that pays you back for actual expenses is called:
A)A reimbursement policy
B)An indemnity policy
C)An HMO policy
D)A group policy
6
The maximum amount you are responsible for paying is called:
A)A deductible
B)Coverage limits
C)Out-of-Pocket limits
D)Maximum benefits
7
The difference between an HMO and a PPO is that:
A)A PPO will not pay for services provided out of network and an HMO will.
B)A PPO limits coverage to providers in the network and an HMO does not.
C)A PPO provides you with a doctor and an HMO allows you to choose your own doctor.
D)A PPO will pay for services provided out of network and an HMO will not.
8
The Government provided insurance for low-income people is called:
A)Medicare
B)Medicaid
C)COBRA
D)Medigap
9
Which insurance program would cover you if you were injured at work?
A)Worker's Compensation
B)Medicare
C)Social Security
D)Group health insurance
10
One of the trade-offs of disability income insurance is:
A)Your coverage continues even after you stop paying the premiums.
B)Benefits begin as soon as you become disabled
C)You can have greater income coverage for a higher premium
D)You only have illness coverage and are not protected for accidents.
11
All of the following are reasons why health care costs so much EXCEPT:
A)The increasing number and longevity of the population.
B)A shift to a more health conscious attitude.
C)Regulations that result in cost shifting rather than cost reduction.
D)Increases in prescribing unnecessary tests or treatments.
12
What can you do to reduce your personal health care costs?
A)Drop your health care coverage since it is unnecessary.
B)Go to the doctor for every sniffle.
C)Use the ER since it is free.
D)Get sufficient rest, relaxation, and exercise.





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