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About This Quiz
Finding the right health insurance coverage for your family can be daunting. There are so many options -- and prices for each option -- it's not something to take lightly. And you need to understand your family's needs before you decide on a plan. Think those chemistry tests in high school were bad? See how you do on our health insurance quiz!
Which of the following explains coinsurance?
a couple belonging to one plan
your company paying a portion of your insurance costs
being required to pay a percentage of all health costs
Coinsurance is when a provider requires you to pay a portion of all health costs, even if your deductible has been met.
none of the above
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True or false: Medicaid is only for the very poor or disabled.
true
false
Thanks to the new health care reform, if you've recently lost your job you could be eligible for Medicaid, a program that used to be reserved for the poor and disabled.
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True or false: If you don't have health insurance, you must pay the full, billed price.
true
false
Occasionally, doctors will be open to negotiating your bill for a lower price if you do not have health insurance.
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True or false: Choosing a health insurance plan with the lowest deductible is the best option.
true
false
You have to look at the average costs of using the plan for at least a year to determine if it is the one that works best with your budget.
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Which of the following is true of the government's health care reform?
everyone will be insured
pre-existing conditions will no longer be relevant
the plan will not begin until 2014
all of the above
There is much anticipation around the health care reform, including the ideas that everyone will be insured, pre-existing conditions won't matter and the start date of the new plan -- all of which are true.
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True or false: An employee plan is the only way you can benefit from a group discount.
true
false
Trade associations and unions often offer group-discounted insurance to freelancers or the self-employed.
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Which of the following will vary from plan to plan?
copay amount
network to choose from
deductible amount
all of the above
Every detail of a health insurance plan may vary.
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Which of the following is a definite benefit of an employee plan?
dental coverage
dependent coverage
group discount
Although some employers may pay a portion of the cost of your insurance, not all do. But getting a group discount is a certain benefit you will receive when you sign up through your employer.
employer pays a portion of cost
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True or false: Catastrophic insurance is the cheapest and best plan for a family.
true
false
Catastrophic insurance is meant to cover you in emergency situations when you cannot afford full health coverage. For a low monthly fee, you will be covered for major health issues, but day to day appointments are not covered.
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True or false: The cheapest plan isn't always the one with the lowest monthly cost.
true
The plan with the lowest monthly cost may be more expensive in the long-run due to copays and deductibles.
false
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Which of the following must insurance companies cover?
prescription drugs
children
mental health services
none of the above
There is no law mandating that an insurance company cover any of these.
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True or false: A dependent can leave a parent's insurance and then return to it.
true
As long as the dependent is still under the policy's age limit, they may leave a parent's plan and then return to it.
false
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True or false: If you leave your employer, you can remain on your employer's insurance plan for up to a year and a half.
true
COBRA allows you to keep your employee plan, but your monthly payments will be more expensive since your employer will no longer be paying its share.
false
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True or false: All health insurance policies cover maternity costs.
true
false
Most individual, private plans do not cover pregnancy unless you've purchased a special supplement.
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Which of the following may not be covered under your insurance plan?
dental insurance
mental health services
vision insurance
all of the above
Coverage varies from plan to plan, so one specific plan might not cover any of these.
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Until what age can you cover your dependent?
21
23
26
While most plans used to cut off dependent coverage at 21 or 23, the new health care law has extended coverage until the age of 26.
It depends
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What percent of your out of network costs does a PPO plan usually cover?
0 percent
100 percent
50 percent
70 percent
The average is about 70 percent of the cost, leaving you to pay the remaining 30 percent out of pocket.
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True or false: If you cannot afford an HMO or PPO, you have no other option for affordable health insurance.
true
false
There are many other options that are more affordable, some of which are even funded by the government.
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True or false: As long as you have a referral, an HMO will cover your care at any specialist you choose.
true
false
HMO plans require you to get a referral from your primary care physician to see a specialist, but the plan will only cover a specialist within your network.
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Which of the following health insurance plans are best for someone who travels frequently?
HMO
PPO
EPO
An EPO, or exclusive provider plan, functions like an HMO with a nationwide network of doctors.
none of the above
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You Got:
/20
PhotoAlto/Frederic Cirou/PhotoAlto Agency RF Collections/Getty Images
