PF Ch. 9 T/F ?’s

question

False
answer

Health insurance is a form of protection that eases the financial burden people may experience as a result of someone’s death
question

False
answer

All group health insurance plans provide the same level of protection
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True
answer

COBRA and The Health Insurance Portability and Accountability Act of 1907 have improved health insurance coverage options for individuals and families
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True
answer

Surgical expense coverage for health insurance includes surgeon’s fees in a doctor’s office
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True
answer

A deductible is the amount you must pay before benefits become payable by the insurance company
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False
answer

Long-term care insurance is used to pay for a stay in a nursing home but not for help at home
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False
answer

The copayment provision deals with the amount that someone will pay for a bill such as 20 percent coinsurance
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False
answer

The benefit limits provision identifies the minimum benefits that will be paid for days spend in the hospital
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True
answer

With a guaranteed renewable health insurance policy, the insurer is permitted to raise premiums for all members of a group
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False
answer

A health insurance policy that pays you back for actual expenses is called an indemnity policy
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True
answer

A health insurance policy that pays you back for actual expenses is called a reimbursement policy
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False
answer

Some policies consider the average fee for a service in a particular geographical area then use that amount to set a minimum payment for policyholders
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False
answer

Blue Cross and Blue Shield are two types of HMOs
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True
answer

A PPO is a type of managed care plan
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False
answer

A PPO is another name for an HMO
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False
answer

A Flexible Spending Account is funded by an employer
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True
answer

A Health Reimbursement Account is an employer-funded plan
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True
answer

FSAs, HRAs, and HSAs all provide tax advantages for health expenses
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True
answer

If you have Medicare Part A and Medicare Part B, you should not need Medicare Part C
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False
answer

Medicare typically covers routine checkups
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False
answer

An employer self-funded health plan requires a low level of financial assets
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False
answer

Medicare is offered to certain low-income individuals and families
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False
answer

Disability income insurance covers your medical expenses when you are disabled
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False
answer

A good disability income insurance plan will provide benefits if you cannot work at any job
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False
answer

The financial problems caused by death are greater than those caused by disability
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True
answer

The definition for Disability is stricter for Social Security than for employer plans
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False
answer

The period before you can receive benefits in a disability plan is called the probationary period
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True
answer

A disability policy with a longer elimination period typically charges lower premiums than a policy with a short elimination period
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False
answer

Disability income insurance policies are required to provide benefits for disabled policyholders until age 65
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False
answer

The United States has the fifth highest per capita medical expenditures in the world
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False
answer

Administrative costs in the United States consume half of the health care dollars spend
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False
answer

Health care costs have decreased because of aging baby boomers using fewer health care services

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