Medical Expense Insurance
Ted has a health insurance plan that requires him to pay a specific sum out of pocket before any benefits are paid in a calendar year. Which of these does his health plan have?
Calendar-year deductible
Which of the following statements is NOT true regarding a Critical Illness Plan?
Coverage is limited to a single devastating disease
What type of policy would only provide coverage for specific types of illnesses (cancer, stroke, etc)?
Dread disease insurance
Low frequency diseases can be exclusively covered by what kind of health insurance policies?
Limited policies
A fee for service health insurance plan will normally cover
a disease
An insured has a health plan that pays established amounts in accordance with a list of injuries, surgical procedures, or other losses. This list is called a
benefit schedule
Jennifer is required to pay a specific sum out of pocket before any benefits are paid in a year. Her health policy most likely contains a(n)
deductible
A proposed insured for a health insurance policy was treated for heart disease within the past year. When applying for health insurance, the heart disease treatment
indicates a preexisting condition
A health insurance policy will typically cover
preventative health services
An indemnity plan
provides the insured a specific dollar amount for services
An example of elective cosmetic surgery would be
removing excess fat from an insured's waistline
The elimination period under a hospital indemnity plan is
the specified number of days an insured must wait before becoming eligible to receive benefits for each hospitalization
Kate has a Major Medical Plan with a 75/25 coinsurance and a deductible of $25. How much will she have to pay if she, not having met any of her deductible, visits the doctor and receives a bill for $125?
$50.00
Amy has a group medical policy through her employer with a $500 deductible and a 90% coinsurance provision. She incurs $1,500 in covered health care services. How much will her group insurance carrier pay?
$900
