Health Insurance

Question 1

Underwriting

Answer 1

Betting on Risks

Question 2

Choice

Answer 2

You choose whats going on

Question 3

Chance

Answer 3

Probability of something happening

Question 4

Control

Answer 4

Events you have power over

Question 5

Medicare

Answer 5

For those over 65

Question 6

Medicaid

Answer 6

For those who earn below a certain amount

Question 7

COBRA

Answer 7

Optional insurance if you were to lose your job

Question 8

What does PPO stand for?

Answer 8

Preferred Provider Organization

Question 9

What does HSA stand for?

Answer 9

Health Savings Account

Question 10

What does HMO stand for?

Answer 10

Health Maintenance Organization

Question 11

PPO (+)

Answer 11

• covers any doctor
• insurance comp. pays 90%
• max out of pocket (could end up being free)

Question 12

PPO (-)

Answer 12

• may pay only 60% if it hasn’t worked out plan w/ insurance company
• high deductible

Question 13

HMO (+)

Answer 13

• plan between insurance company + doctor
• doctor is a specialist from that group
• doctor received a set amount
• no deductibles
• fairly cheap

Question 14

HMO (-)

Answer 14

• insurance doesn’t cover every doctor

- limited to a certain amount of doctors

Question 15

HSA (+)

Answer 15

• any doctor
• retire can get back (tax free)
• like a PPO
• almost like a hidden savings account from gov’t 😃😃
• great for people who don’t get suck

Question 16

HSA (-)

Answer 16

• high deductible

Question 17

Workers comp

Answer 17

Can be for those who r injured on the job

Question 18

Advantages of health insurance policy?? Over an individual policy??

Answer 18

• tax benefits
• batter access to care
• financial security

Question 19

Property damage liability

Answer 19

• required repairs someone else’s property