5. Insurance and Risk

Health Insurance — Quiz

Test your understanding of health insurance with 5 practice questions.

Practice Questions

Question 1

When a health plan’s deductible is increased, what is the most likely effect on its monthly premium?

Question 2

An insured with a \500 deductible, 20\\% coinsurance, and a \2000 out-of-pocket maximum incurs a \3000 medical bill. What is their total out-of-pocket payment for this bill?

Question 3

An individual expects four primary care provider (PCP) visits costing \100 each with no other services. Plan A has a \$200 monthly premium and a \$20 copay per visit. Plan B has a \$100 monthly premium and 20\\% coinsurance on visit charges. Which plan yields the lower total annual cost?

Question 4

Which of the following is NOT a cost-sharing feature in a health insurance plan?

Question 5

An individual anticipates \6000 in annual medical expenses. Plan A has an annual premium of \$3000, a \$500 deductible, 10\\% coinsurance up to a \2000 out-of-pocket maximum. Plan B has an annual premium of \$2000, a \$1000 deductible, and 20\\% coinsurance up to a \2500 out-of-pocket maximum. Which plan yields the lower total cost?