Question

1 The healthcare market has some unique risk elements because recovering from an illness is as unpredictable as the acquisition of the illness. Which descriptions make the healthcare market so different from other markets? Select all that apply.

The demand for healthcare is very different, most services are sought if and when needed.

Healthcare requires that an unusual amount of trust exists for the physician or nurse providing care.

Unlike most markets, the quality of healthcare is measureable and well publicized.

The production of healthcare professionals varies according to the selected education program.

The healthcare sector has sophisticated pricing practices aimed at preventing price discrimination.

2 Which of the following is the most recent innovation in the insurance market?

CDHP

HDHP

HRA

HSA

3 Prior to the ACA, what act was created to provide universal healthcare coverage but was never voted on by Congress?

Health Security Act

Health Insurance Portability and Accountability Act

Consolidated Omnibus Budget Reconciliation Act

Title XIX of the Social Security Act

4 What is the federal law the sets minimum standards for employer-sponsored benefits?

ERISA

HIPPA

COBRA

Health Security Act

5 According to _______, self-insured plans are exempt from state laws because health care is defined as an employer benefit, not insurance.

ERISA

HIPPA

COBRA

the Social Security Act

6 A distinctive feature of the managed care approach is the importance of preventive health and quality assurance processes.

True

False

7 Health Maintenance Organizations (HMOs) have a number of requirements. Which option is not a requirement for a person insured by an HMO?

Enrollees are required to live and work within a specific area

Healthcare access is restricted to in network providers

Out of network costs are covered in an emergency

Primary care provider must approve access to specialty care

Answer 1

Answer 1: Healthcare requires that an unusual amount of trust exists for the physician or nurse providing care., The healthcare sector has sophisticated pricing practices aimed at preventing price discrimination.

Rationale: The healthcare system runs on the basis of the trust and relationship build with the patients. It means that healthcare professionals need to indulge themselves to gain the trust of the patient.

Answer 2: CDHP

Rationale: The consumer healthcare driven plan is directly related to the lower premium rates and it is the most flexible plan.