Health Insurance Answers

7 verified answers

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 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

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

Which of the following statements are true? (Select all that apply.)

Government health insurance plans are typically more expensive than private plans.

Private health insurance plans are typically more expensive than government plans.

Government health insurance plans target specific groups of patients, such as the elderly, veterans, or children.

Private health insurance plans target specific groups of patients, such as the elderly, veterans, and children.

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