12 Questions
Which of the following is the number one cause for bankruptcy?
Healthcare costs
What does health insurance protect your life savings from?
All of the above
What is the purpose of a monthly premium in health insurance?
To count towards the deductible
Which type of health plan allows you to choose your own primary care doctor?
Health Management Organization (HMO)
What percentage of the remaining $3,000 would the person in the example have to pay if they have a $1,000 deductible and a 10% coinsurance?
$300
Which type of health plan usually has a percentage of the premium paid by the employer?
Group health plan
Which of the following terms refers to the maximum amount an individual has to pay in a health insurance plan year, excluding premiums?
Out-of-pocket maximum
What is the purpose of a deductible in health insurance?
To limit the amount the insurance company pays
If someone has a $40 co-pay for office visits, where does this payment go towards?
Deductible
Which of the following is NOT an example of a government health plan?
HMO
What is the main difference between an HMO and a PPO?
HMO has a smaller in-network group, while PPO has a larger in-network group
What is the purpose of a deductible in health insurance?
To determine the amount the insured person must pay before the insurance company starts paying
Test Your Knowledge: The Impact of Health Care Costs on Bankruptcy
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