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Private Health Insurance Flashcards | StudBud
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Private Health Insurance
Private Health Insurance
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StudBud Administration
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A quiz to test reading comprehension and understanding of basic insurance concepts.
Flashcards
16 cards
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Questions
16
Answers
1
Essential health benefits require 10 broad categories of care and:
are determined by the employer.
are determined by the state.
are determined by the insurance plan.
are determined by the federal government.
2
Moral Hazard is best defined as:
people in your risk pool with risky behaviors.
people keeping a job in order to have health insurance.
people who do not hold Democratic values.
people using more health care because they have insurance.
3
In 2014, the ACA limited out-of-pocket spending to:
$10,000 for an individual and $20,000 for a family.
$1550 for an individual and $3100 for a family.
$6,350 for an individual and $12,700 for a family.
the ACA does not limit out-of-pocket exposure.
4
The ACA followed Massachusetts lead in standardizing health plans using:
numbers such as: Plan 1, Plan 2, Plan 3
Cost such as: expensive, reasonable, cheap
names such as: Good, Better, Best
metallic tiers: such as: Gold, Silver, Bronze
5
A co-payment is:
a percent of the doctor's fee paid when you visit.
a flat fee paid each time you visit the doctor.
your share of the health insurance premium.
a flat fee paid when you visit the doctor more than 3 times.
6
The ACA allows health insurers to charge higher premiums to:
sicker people.
women.
employers in certain occupations.
older people.
7
A self-insured plan is:
a plan where all the risk is on the employer.
a plan where all the risk is on the insurance company.
a plan where all the risk is on the government.
a plan where all the risk is on the employee.
8
A "grandfathered " plan under the ACA is:
a plan that was created before March 23, 2010.
a plan that must comply with all of the ACA provisions.
a plan for retired people.
a plan created after the passage of the law.
9
Heath Insurance markets in states are categorized as:
large group, small group, and nongroup.
young people, middle aged, elderly.
comprehensive coverage, limited coverage, no coverage.
sick people and healthy people.
10
A health insurance premium is:
what you pay each time you go to the doctor's office.
a new ride at Disney World.
a better health insurance plan.
a fee you pay monthly in order to have health insurance.
11
An HSA is:
the network of providers you can see in your health plan.
a type of health plan with a limited provider network.
a tax-free account funded by the employer and/or employee.
a subsidy for low-income people made available by the ACA.
12
Employers self insure for all but the following reason:
to expose them to less risk.
to limit health insurance profits.
to offer similar benefits across states.
to limit exposure to state mandated benefits.
13
A "MLR" or "minimum loss ratio" is:
the percent of premium that you pay.
the percent of premium that is spent on health care.
the percent of premium that goes to the insurer's profit.
the percent of premium spent on administrative costs.
14
A "death spiral":
describes a risk pool that gets sicker over time.
describes a plan that attracts healthier patients.
describes a plan with limited benefits.
is a figure-skating trick where the skater spins backwards.
15
Community rating is best described as a law:
where people pay what they can afford to pay for insurance.
where rich people subsidize poor people.
where each city or town organizes their own insurance plan.
where healthy people subsidize sick people.
16
In his Atlantic article, Goldhill advocates for:
the system we have today.
insurance coverage for everything you could possibly need.
catastrophic health care for all.
comprehensive, government-run health insurance.
