FREE AHIP MCQ Questions and Answers
Which of the following summarizes the phrase "annual health insurance deductible" the best?
One form of "cost-sharing" element that is frequently present in a health insurance coverage is a deductible.
Which of the following statements most accurately sums up a "health insurance formulary"?
The list of prescription medications your health plan will cover is the right response. The term "drug formulary" refers to the list of medications that your health plan will cover as well as the cost-sharing that you are responsible for.
Is a health insurance premium something you have to pay every month, whether or not you use medical services, or is it something you just have to pay when you need medical services?
The right response is that you must pay each month whether or not you use the services. Monthly insurance premium payments are required.
Which of the following statements accurately sums up an insurance policy's "annual out-of-pocket maximum"?
Your annual out-of-pocket expenses for covered treatments obtained in network must be capped for health plans offered through the Marketplace and the majority of employer-sponsored plans.
Which of the following best characterizes a "provider network" for a health plan?
The hospitals and doctors who have contracts with your health plan to provide services for a set rate or fee schedule is the right response. When you receive care from one of their network of providers, the majority of health plans offer the highest level of coverage.
Which of the following accurately describes a "health insurance premium"?
All subscribers must pay a premium each month in order to maintain their health insurance coverage.
Let's say your health insurance plan imposes a $1,000 deductible and a $250 daily copay on hospital costs. After insurance savings are taken into account, your hospital cost after being ill for 4 days comes to $6,000. How much of the hospital bill will you be responsible for covering?
The right response is $2,000. Due to the deductible, you must pay the first $1,000 of the discounted (or authorized) payment in addition to four copays of $250 per day, or an additional $1000. You will have to pay a total of $2,000 out of your own money, or $1,000 + $1,000.