Personal Finance Chapter 9
The Medicare co-insurance payment is typically:
20 percent
Which of the following statements is true of medical insurance costs in the U.S.?
A poor demand-and-supply distribution of health care facilities and services has increased the health care costs.
Advances in medical technology, drug prescriptions, and treatments have substantially reduced the cost of health care in recent decades.
False
Blue Cross provides hospital coverage and Blue Shield provides prescription pharmacy coverage.
False
Disability insurance is available only when someone is completely incapable of returning to work during his or her lifetime.
False
Large employers are less likely to offer health insurance to their employees than small employers.
False
Premiums for workers' compensation insurance are paid by the employees.
False
Ben's (aged 40) health coverage charges a low ($15) deductible each time he visits a doctor or hospital. Other than the low per-service deductible, there is very little cost sharing. However, Ben has the advantages lack of deductibles, few or no exclusions, and not having to file insurance claims. Which of the following most likely provides Ben's health coverage?
HMO
Which of the following is true of the health care industry?
In managed care plans, employers contract with the health care service provider.
A preferred provider organization has characteristics of both an individual practice association (IPA) and an indemnity plan.
True
An elimination period is the number of days that must pass before disability policies pay the benefits.
True
Health Maintenance Organizations (HMOs) provide health care to participants without requiring them to file insurance claims.
True
Living a healthy lifestyle is an example of loss prevention and control.
True
Medicare and Medicaid are administered by hospitals and physicians.
True
Millions of Americans are not covered by health insurance.
True
You would have a better chance of choosing your own doctor with a preferred provider organizations (PPO) plan than with a health maintenance organizations (HMO) plan.
True
Which of the following is true of the workers' compensation insurance?
Workers' compensation insurance compensates workers who are injured on the job or become ill through work-related causes.
An exclusive provider organization (EPO) is _____.
a managed care plan that reimburses members only when affiliated providers are used
A supplementary medical insurance (SMI) provides health care protection beyond the basic hospital coverage for:
anyone age 65 or over who pays premiums on a voluntary basis.
Some employers providing health insurance as an employee benefit offer only one plan and pay _____.
either all or part of the health care insurance premiums
During the past few decades, the percentage of our income spent on health care:
has increased due to an aging U.S. population.
Workers' compensation insurance will make compensation payments to an injured worker _____.
only if he has been hurt on the job
In a traditional indemnity (fee-for-service) plan:
the health care provider and the insurer are separate.
People under the age of 65 years are covered by Medicare health insurance plan if:
they are injured on the job or become ill through work-related causes.
One of the key goals of the Affordable Health Care Act of 2010 is:
to reduce the number of uninsured citizens in the country.