Review Questions

1. Describe briefly the major healthcare problems in the United States.

2. Identify the major provisions of the Affordable Care Act that have a significant impact on individuals and families.

3.

A. Describe the basic characteristics of individual medical expense insurance.

B. Explain the reasons for deductibles and coinsurance in medical expense policies.

4. Briefly explain the major characteristics of a health savings account (HSA).

5. Briefly explain the following characteristics of long-term care insurance.

A. Types of long-term care policies

B. Triggers to become eligible for benefits

C.Exclusions

D.Protection against inflation

6.

A. Explain the various definitions of disability that are found in disability-income insurance.

B. Briefly explain the following disability-income insurance provisions:

Residual disability

Benefit period

Elimination period

Waiver of premium

7. Identify the optional benefits that can be added to a disability-income policy.

8.Explain the following renewal provisions that may appear in individual health insurance policies:

A. Guaranteed renewable

B. Noncancelable

C. Conditionally renewable

D. Nonrenewable

E. Guaranteed issue

9. Explain the meaning of a preexisting condition.

10. Explain the time limit on the certain defenses contractual provision.