Question

Question 1 Choose the answer that gives the correct answers to fill in the blanks. In...

Question 1

Choose the answer that gives the correct answers to fill in the blanks.

In order to buy health insurance coverage for the month, Janice pays a monthly _______. Each year, Janice has to pay the full cost of her health care until she has paid enough to cover her ______, after which if she receives health care she pays _______ until she has met her _______ after which her insurance company pays all of her (in-network) health care bills.

fixed copay; out-of-pocket maximum; a deductible; premium..
deductible; premium; a fixed copay; out-of-pocket maximum.
premium; fixed copay; a deductible; out-of-pocket maximum.
premium; out-of-pocket maximum; a fixed copay; deductible.
premium; deductible; a fixed copay; out-of-pocket maximum.

Question 2

The Iron Triangle that the Crash Course video discusses as an obstacle to making substantial changes to the U.S. health care system is which of the following?

The mutually beneficial relationship between Congress, government bureaucrats, and lobbyists.
The competing interests of the pharmaceutical industry, insurance industry, and the FDA.
Federal, State, and local governments which often conflict over what should be covered and which level of government should pay.
The conflicting interests of hospitals, insurance companies, and patients.
The mutually beneficial relationship between the American Medical Association, the American Hospital Association, and the Health Insurance Association of America.

Question 3

What does the presence of widespread health insurance coverage do to the price and quantity of health care used, and to total health care expenditure?

It increases price, increases the quantity used, and increases total health care expenditure.
It increases price, decreases quantity used, and increases total health care expenditure.
It decreases price, increases quantity used, and has an ambiguous effect on health care expenditure.
It decreases price, increases quantity used, and decreases total health care expenditure.
It decreases price, increases the quantity used, and increases total health care expenditure.

Question 4

Which of the following statements is TRUE?

Actuarially fair insurance guarantees that the insurance company cannot lose money.
Medicare is actuarially fair insurance because individuals pay for it with an earmarked tax on income earned each year before the age of 65.
Actuarially fair insurance has a premium that is equal to the individual's own expected costs over the insured period.
Actuarially fair insurance includes a loading factor in the premium.
Actuarially fair insurance would NOT be purchased by a risk averse individual.

Question 5

Which of the following statements about community rating is TRUE?

Community rating in health insurance is achieved when health care is paid for through a progressive income tax.
A deductible is a kind of community rating for health insurance.
Community rating in health insurance can work if everyone is required to buy insurance.
Medicare is an example of community rating in health insurance.
Community rating is an example of actuarially fair insurance.

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