Are You Unaware? ~

Are you Unaware?

1 / 10

1. What is a premium in health insurance?

The total cost of all medical services received

The amount you pay each month for health coverage

The maximum amount you'll have to pay out-of-pocket in a year

The fee you pay for each doctor's visit

2 / 10

2. What does a deductible refer to in health insurance?

The percentage of medical costs you pay after meeting a certain limit

The fixed amount you pay for covered medical services before your insurance starts to pay

The additional amount you pay for specialized medical procedures

3 / 10

3. What is a co-payment (co-pay) in health insurance?

The total amount you owe for covered health care services

The percentage of costs you pay after meeting your deductible

The amount you pay each year before your insurance starts to cover expenses

A fixed amount you pay for covered health care services, usually when you receive the service

4 / 10

4. What is a network in health insurance terms?

The group of doctors and hospitals that have agreed to provide services at a discounted rate

The list of medical services covered by your insurance plan

The total amount of money your insurance will pay for covered services in a year

The process of deciding which medical treatments are necessary and covered by insurance

5 / 10

5. Suppose you have a health insurance plan with a 20% coinsurance rate for emergency room visits. If you receive a bill for an emergency room visit totaling $2,500, how much would you have to pay out-of-pocket?

$250

$500

$1000

$2000

6 / 10

6. What is an Explanation of Benefits (EOB)?

A list of all the doctors in your insurance network

A form used to file a claim with your insurance company

A summary of medical services provided by your doctor

A document that outlines the costs covered by your insurance plan after a medical visit

7 / 10

7. What is a Health Maintenance Organization (HMO)?

An insurance plan that offers a wide range of provider choices but requires referrals to see specialists

An organization that provides free health services to low-income individuals

A type of insurance plan where you can only see doctors in the plan's network

A government program that provides health insurance to seniors

8 / 10

8. What is a Preferred Provider Organization (PPO)?

An insurance plan that offers a wide range of provider choices and requires referrals to see specialists

An organization

A type of insurance plan where you can only see doctors in the plan's network

A government program that provides health insurance to seniors

9 / 10

9. What does “out-of-pocket maximum” mean in health insurance?

The most you will ever pay for health care services in your lifetime

The fee you pay for each doctor's visit

The maximum amount you'll have to pay for covered services in a plan year, after which your insurance covers 100% of additional costs

The total annual amount you are required to pay for covered services after which your insurance stops providing coverage

10 / 10

10. Which of the options about Health Savings Account (HSA) and a Flexible Spending Account (FSA) is false?

HSAs are funded by pre-tax dollars, while FSAs are funded by post-tax dollars

HSAs can only be used for medical expenses, while FSAs can also be used for dependent care expenses (ex. daycare)

HSAs and FSAs are employer-sponsored

HSAs have no rollover limit, while FSAs have a limited rollover or "use-it-or-lose-it" rule

The average score is 80%

0%

Are you Unaware?

Take the quiz and find out