Medicare is an example of what type of health insurance?
Question 1
1.
Self-funded or self-insurance programs are health insurance programs that are implemented and controlled by the employee themselves. Therefore, the employee maintains the risk.
True
False
10 points
Question 2
1.
A company who provides their own health insurance will purchase reinsurance from another insurance company to protect themselves from any catastrophic losses. The reinsurance sets a stop loss measure that limits the amount the company will pay for claims.
True
False
10 points
Question 3
1.
Flexible spending accounts (FSA) provide employees with the option of setting aside pretax income to pay for out of pocket medical expenses. Employees must submit claims for these expenses and are reimbursed from their spending accounts. The drawback is that the amount set aside must be spent within one year.
True
False
10 points
Question 4
1.
The most common type of prospective reimbursement is a service benefit plan which is used primarily by managed care organizations.
True
False
10 points
Question 5
1.
Used in both fee for service and prepaid plans, premiums are costs that the patient must pay at the time they receive the services.
True
False
10 points
Question 6
1.
A recent trend in health insurance plans is consumer driven health plans which are tax advantage plans with high deductible coverage. The most common CDHPs are health reimbursement arrangements (HRAs) and health savings accounts (HSAs).
True
False
10 points
Question 7
1.
Very few insurance policies require a contribution from the covered individual which may be a copayment, deductible or coinsurance which is called cost sharing.
True
False
10 points
Question 8
1.
Medicare is an entitlement program because people, after paying into the program for years, are entitled to receive benefits.
True
False
10 points
Question 9
1.
Why was health insurance developed?
To reduce the amount of absenteeism by employees. | ||
Companies’ felt responsible for the health of their employees. | ||
Companies wanted to provide free health care services to their employees. | ||
Like homeowner’s insurance or life insurance, provide protection to an employee in the event they required health care. |
10 points
Question 10
1.
Most insurance policies require a monetary contribution from the covered individual which is called:
Copayment | ||
Deductible | ||
Coinsurance | ||
All three are correct. |
10 points
Question 11
1.
Catastrophic health insurance policies provide which of the following:
Outpatient and inpatient services, surgery, laboratory testing and therapies. | ||
Hospital services reimbursement with limits on hospital stays. | ||
Reimbursement for mental health diseases only. | ||
Unusual illnesses policy which has a high deductible and a lifetime reimbursement cap. |
10 points
Question 12
1.
The Flexible Spending Account (FSA) has the following characteristics:
An option of setting aside pretax income to pay for out of pocket medical expenses. | ||
The funds accumulated over a year must be spent within the year. | ||
Allows employees who work for small companies (less than 50 employees) who have high deductible plans, can use an MSA to set aside pretax dollars to be used for their premiums and non reimbursed healthcare expenses. | ||
All of the statements are correct. |
10 points
Question 13
1.
What is Medicare Part B?
It is the managed care component of Medicare. | ||
Provides for prescription drug plans | ||
Supplemental health plan to cover physician services. | ||
It is financed from payroll taxes. |
10 points
Question 14
1.
Which sector of healthcare service accounted for the most spending?
Clinical services | ||
Hospital services | ||
Podiatrists and chiropractors | ||
Home healthcare services |
10 points
Question 15
1.
Medicare is an example of what type of health insurance?
Public welfare insurance | ||
Social insurance | ||
Managed care insurance | ||
None are correct |
10 points
Question 16
1.
A copayment, deductible and coinsurance are also called:
Cost sharing | ||
Medigap expenses | ||
Self funded expenses | ||
Private health expenses |
10 points
Question 17
1.
_____________________ is an entitlement program because people have been paying into the program for years to receive benefits.
Medicare | ||
Medicaid | ||
CHIP | ||
All are entitlement programs |