Medical Expense Insurance Exam Review Exam Questions with all correct Answers
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Medical Expense Insurance
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Medical Expense Insurance
Medical Expense Insurance Exam Review Exam Questions with all correct Answers A comprehensive major medical health insurance policy contains an Eligible Expenses provision which identifies the types of health care services that are covered. All of the following...
Medical Expense Insurance Exam Review Exam Questions with all correct Answers A comprehensive major medical health insurance policy contains an Eligible Expenses provision which identifies the types of health care services that are covered. All of the following health care services are typically covered EXCEPT for – ANSWERS-
experimental and investigative services
.A Health Reimbursement Arrangement MUST be established – ANSWERS-by the employer
.A Hospital/Surgical Expense policy was purchased for a family of four in March of 2013. The policy was issued with a $500 deductible and a limit of four deductibles per calendar year. T wo claims were paid in September 2013,
each incurring medical expenses in excess of the deductible. T wo additional claims were filed in 2014, each in excess of the deductible amount as well. What would be this family’s out-of-pocket medical expenses for 2013? – ANSWERS-In this situation, the insured’s maximum out-of-pocket expenses for 2013 would be $1,000.
.A major medical policy typically – ANSWERS-A major medical policy provides
benefits for reasonable and necessary medical expenses, subject to policy limits.
.All of the following statements about Major Medical benefits are true EXCEPT
– ANSWERS-Benefits have no maximum limit -Major medical benefits normally have a maximum limit
.An individual has a Major Medical policy with a $5,000 deductible and an 80/20 Coinsurance clause. How much will the INSURED have to pay if a total of $15,000 in covered medical expenses are incurred? – ANSWERS-In this situation, $5,000 + 20% of the remaining bill = $7,000
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