Health Insurance Basics

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Questions and Answers

What is the primary purpose of having health insurance?

  • To make your employer pay for your insurance policy
  • To visit a doctor for a yearly check-up
  • To ensure that you are not sick
  • To protect yourself financially in case of illness or injury (correct)

What is a benefit of having health insurance when visiting a doctor for a yearly check-up?

  • You can avoid going to the hospital
  • You can get treated for free
  • You can only get insurance if you're already sick
  • Your insurance will help cover the doctor visit bills (correct)

What is a benefit of having multiple children on a health insurance policy?

  • You have to pay more per child
  • You have to pay less per child
  • You can have multiple children on the policy for the same price (correct)
  • You cannot have multiple children on the policy

Is it mandatory by law to have health insurance?

<p>No, it's not mandatory by law (D)</p> Signup and view all the answers

What happens if an employer has 50+ full-time employees?

<p>They are required to offer a health insurance policy to their employees (C)</p> Signup and view all the answers

What is COBRA, and how long does it last?

<p>A government program that gives people the right to continue coverage through a work-based group plan after a job loss, and it lasts for 18 months (B)</p> Signup and view all the answers

Who can purchase a health insurance policy?

<p>Anyone, including individuals, couples, or families (D)</p> Signup and view all the answers

Who is eligible for Medicaid?

<p>Low-income individuals and families (A)</p> Signup and view all the answers

What is the risk of not having health insurance?

<p>You will have to pay for the entire hospital bill if an unexpected event occurs (D)</p> Signup and view all the answers

What happens to the cost of a health insurance policy as the number of people on the plan increases?

<p>The cost of the policy increases (D)</p> Signup and view all the answers

What is the purpose of a deductible in a health insurance plan?

<p>To share costs with the insurance company (B)</p> Signup and view all the answers

How long can a child stay on their parent's health insurance policy?

<p>Until they are 26 years old (B)</p> Signup and view all the answers

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