Quiz On Healthcare and Medical Expense Planning

  1. Which of the following is a tax-advantaged savings account specifically designed for medical expenses?
  2. IRA (Individual Retirement Account)
    ESA (Education Savings Account)
    HSA (Health Savings Account)
  3. What does COBRA stand for in relation to healthcare coverage?
  4. Committee on Budget, Resources, and Accounting
    Consolidated Omnibus Budget Reconciliation Act
    Coordination of Benefits and Reimbursement Agreement
  5. Which type of insurance provides coverage for long-term care services such as nursing home care or home health care?
  6. Life insurance
    Long-term care insurance
  7. What is the purpose of a Health Reimbursement Arrangement (HRA)?
  8. To offer supplemental health coverage to employees
    To reimburse employees for qualified medical expenses
    To provide retirement benefits to employees
  9. Which government program provides healthcare coverage for individuals aged 65 and older?
  10. Medicare
  11. Which of the following is a qualified medical expense that can be reimbursed through a Flexible Spending Account (FSA)?
  12. Over-the-counter medications without a prescription
    Cosmetic surgery
    Vacation expenses for medical treatments
  13. Which type of insurance policy pays a predetermined amount for each day an individual is hospitalized?
  14. Term life insurance
    Disability insurance
    Hospital indemnity insurance
  15. Which government program provides healthcare coverage for low-income individuals and families?
  16. Medicare
    Affordable Care Act
  17. What is the purpose of a Health Maintenance Organization (HMO)?
  18. To provide coverage for catastrophic medical events
    To focus on preventive care and manage healthcare costs
    To offer tax-advantaged savings for medical expenses
  19. Which type of insurance is designed to cover the costs of unexpected medical events and emergencies?
  20. Supplemental insurance
    Catastrophic insurance
    Comprehensive insurance
  21. Which government program provides healthcare coverage for active and retired military personnel and their families?
  23. What is the purpose of a Health Savings Account (HSA)?
  24. To save for retirement
    To fund education expenses for dependent children
    To pay for healthcare expenses with pre-tax dollars
  25. Which of the following is an example of a preventive care service that is typically covered at no additional cost under health insurance plans?
  26. Emergency room visits
    Hospital stays
    Annual physical exams
  27. What is the purpose of a Medical Power of Attorney?
  28. To make medical decisions on behalf of an individual who is unable to do so
    To dispute medical bills and insurance claims
    To apply for government healthcare programs
  29. Which type of insurance covers a portion of the costs for prescription medications?
  30. Vision insurance
    Prescription drug insurance
    Dental insurance