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Health Insurance Test Study Guide Questions and Answers Latest Version Rated A+
What is the main goal of health insurance?✔✔ To help pay for medical expenses
What is a premium in health insurance?✔✔ The amount paid regularly to keep the policy active
What does a deductible mean in a health insurance plan?✔✔ The amount the insured must pay before the insurer starts to pay
What is a copayment?✔✔ A fixed fee paid by the insured for specific healthcare services
What does coinsurance mean?✔✔ The percentage of costs shared between the insured and insurer after the deductible is met
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Who usually provides group health insurance?✔✔ Employers
What is a network in health insurance?✔✔ A group of doctors and facilities that agree to provide services at reduced rates
What is an out-of-pocket maximum?✔✔ The most an insured person will pay in a year for covered services
What is a primary care physician?✔✔ A doctor who coordinates general healthcare and referrals
What does HMO stand for?✔✔ Health Maintenance Organization
What is the main feature of an HMO plan?✔✔ Requires referrals and offers lower out-of-pocket costs
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