16.Question 16Which of the following correctly matches a cost sharing/OOP spending tool to an example of it?1 pointDeductible- A person has to pay $25 for each doctor visit and insurance will cover the rest. Out-of-pocket maximum (OOP)- After a person’s out-of-pocket spending reaches $3,000 in a calendar year, the insurer will pay all the remaining costs in full. Copayment- A person must pay 30% of medical expenses and insurance will pay the other 70%.Coinsurance- A person pays for the first $500 of health spending and then insurance covers any cost after that.

1. A financial agreement for the payment of health-related costs that is made between an individual or a group of individuals and an insurance company is known as _____.A. Fixed IndemnityB. CoinsuranceC. Health insuranceD. Copay2.Billy received a claim against his health insurance in the mail in the amount of $4,910. This is the first claim against his health insurance for the current calendar year. His deductible is $3,000, his coinsurance is 20%, and his premium is $200. What will Billy end up paying on this claim?A. $3,382B. $4,528C. $3,582D. $3,0003.Raymond pays for the first $2,600 of covered services himself (out-of-pocket) under his health insurance plan. This $2,600 is a known as a _____.A. CopayB. DeductibleC. PremiumD. Coinsurance4.Becky is having foot surgery and lives in a townhouse with four flights of steps. She would like to stay in a long-term care facility for the first couple of weeks following her surgery so as not to be a bother to her family. However, when she inquires about her plans to her health insurance company she is told that the long-term care facility will not be covered for her in this type of situation. This is known as a policy _____.A. premiumB. appealC. exclusionD. denial5.Susie selects a health insurance plan through her employer where she makes a $200 payment in full each month for her health care benefits to remain completely active. This payment is known as:A. DeductibleB. CoinsuranceC. A copayD. A premium

.Question 18Assume a patient has an upcoming medical procedure that will cost $1000. Suppose the patient is in a health plan with a $500 deductible, after which 20% coinsurance applies. Suppose that the patient has previously had $2000 in health care expenses in the year. How much can the patient expect to pay out of pocket for this procedure? $_______Please write the answer in numeric form. No need to add a dollar sign.

Which is the best example of an out-of-pocket cost?A.A deductibleB.A repair estimateC.A claimD.A benefitSUBMITarrow_backPREVIOUS

Multiple Choice QuestionA provision under which the insured pays a flat dollar amount each time a covered medical service is received is called:Multiple choice question.coinsuranceflat rate paymentcopaymentdeductible

1.Question 1Fill in the blank: ____ is an optional health-related benefit employers commonly offer. 1 pointPet insuranceLife insuranceCar insuranceRenters’ insurance2.Question 2Fill in the blank: One method of tracking benefit costs is to look at the ______ of making a particular benefit available.1 pointannual costopportunity cost quarterly costemployee fee 3.Question 3Which of the following are optional components of healthcare benefits that might be offered? Select all that apply. 1 pointTelemedicineMental health resourcesDiscounts on products and services Free tickets to concerts and sporting events4.Question 4Which of the following healthcare plans allow more choice but cost more for patients who choose to go outside a prescribed "network" of healthcare providers?1 pointHealth savings accountsPreferred provider organizationsHealth maintenance organizationsHealth reimbursement arrangements5.Question 5In order for an employee to be eligible for Medicare, they must be at least how old?1 point705575 656.Question 6According to the Family Medical Leave Act, or FMLA, which of the following types of leave refers to a lightening in an employee's usual work schedule for a given amount of time. 1 pointSuspensionReducedIntermittent Continuous 7.Question 7Neri at Urban Attire is helping the HR team put together benefits packages for the upcoming year. They have decided to start offering childcare benefits to all employees. Which of the following are some common childcare benefits Neri can offer? Select all that apply. 1 pointPrivate school subsidiesVouchers or discountsOnsite careAssistance finding information8.Question 8Fill in the blank: _______ are untaxed retirement savings accounts established through a bank instead of an employer.1 pointIndividual retirement accountsIncorporated retirement accountsInvested retirement accountsIncluded retirement accounts9.Question 9When does a worker start being taxed on their standard 401(k) account? 1 pointWhen they start collecting from the accountTaxes are covered by employersAs they are building the account401(k) are never taxed10.Question 10According to the IRS, how many years since beginning their retirement plan must a worker have accumulated before they can collect their retirement payments? 1 point20101525