Which of the following is the best definition of the term healthplan premium:
- The best type of health insurance you can buy
- The amount health plan companies charge each month forcoverage
- A bonus you receive at the end of the year if you staycovered
- A gold standard plan
What is the best definition of a health plan deductible:
- The amount that is deducted from your paycheck each year to payfor your policy
- The amount of health expenses that you can deduct from incomeon your yearly tax return
- The amount of health care expenses that you must pay on yourown each year before your health plan coverage takes effect
- It is part of a Health Savings Account
Suppose that under your health insurance policy, hospitalexpenses are subject to a $1,000 deductible and $250 per day copay.You get sick and are hospitalized for 4 days, and the bill (afterinsurance discounts are applied) comes to $6,000. How much of thathospital bill will you have to pay yourself:
- $0
- $1,000
- $2,000
- $4,000
A fixed amount of money that one pays for a health care serviceis known as:
- Co-Insurance
- A Deductible
- Co-Payment
- A Premium
Which of the following best describes the “annual out-of-pocketlimit” under a health plan policy:
- The most you will have to pay in deductibles, copays, andcoinsurance for covered care received in network for the year
- The most your insurance policy will pay for covered services ina year
- It is the same on all health plans
- The most you will have to pay for premiums in a year
What term best describes a health plan “provider network:
- The hospitals and doctors that contract with your health planto provide services for an agreed-upon rate or fee schedule
- The computer system doctors and hospitals use to submit billsto insurance companies
- A website where consumers can find information about the bestdoctors
- A system that will provide prices for health services
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