Health Insurance Answers

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What is health insurance?

agreement between a patient and a healthcare provider that says the patient will pay for all medical expenses

agreement between a healthcare provider and a health insurance company that says the company will pay a portion of the provider’s medical expenses

agreement between a patient and a health insurance company that says the company will pay a portion of the patient’s medical expenses.

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Which of the following statements are true? (Select all correct answers.)

A high premium usually means a patient will pay high out-of-pocket costs.

A high premium usually means a patient will pay low out-of-pocket costs.

A low premium usually means a patient will pay high out-of-pocket costs.

A low premium usually means a patient will pay low out-of-pocket costs.

What is a health insurance premium?

amount a patient must pay for medical expenses

amount a patient must pay a health insurance company to provide insurance

amount a patient must pay a healthcare provider to provide healthcare

amount a health insurance company must pay a patient to cover the patient’s healthcare expenses

What is a co-pay?

fixed percentage a patient must pay of the cost of a healthcare service

fixed amount of money a patient must pay directly to a healthcare provider

fixed amount of money a patient must pay for healthcare services every year before the insurance company will begin to pay

In what ways do individuals pay for a portion of healthcare expenses? (Select all that apply.)

premiums

bill adjustments

co-insurance

billing the insurance company

deductibles

What is co-insurance?

fixed percentage a patient must pay of the cost of a healthcare service

fixed amount of money a patient must pay directly to a healthcare provider

fixed amount of money a patient must pay for healthcare services every year before the insurance company will begin to pay

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