Planning Beginner: Paying for Health Care

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1.
Children up to age _______ may be covered by the federal Children's Health Insurance Program (CHIP).
Choose wisely. There is only one correct answer.
19. However, their eligibility is ultimately dependent on income and what state they live in.
2.
Insurance companies cannot refuse to cover consumers with pre-existing conditions.
Choose wisely. There is only one correct answer.
True. The Affordable Care Act requires insurance companies to offer insurance coverage to consumers, regardless of pre-existing conditions.
3.
The first step to buying health insurance through a government exchange is to _______.
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Set up an account. To buy an insurance policy through a government exchange, you must first set up an account with basic information about you and your family.
4.
Paying for healthcare on your own can be much more expensive because _______ negotiate discounts from hospitals and healthcare providers, so they pay less.
Choose wisely. There is only one correct answer.
Insurance companies. By negotiating discounts from hospitals and healthcare providers, insurance companies pay less for services than you would pay on your own without insurance.
5.
How do you actually receive a subsidy for health insurance if you qualify through a health insurance exchange?
Choose wisely. There is only one correct answer.
Lower health insurance premiums. The subsidies are applied in the form of a lower insurance premium.