Exam (elaborations)
HEALTH INSURANCE – QUESTIONS AND ANSWERS
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HEALTH INSURANCE – QUESTIONS AND ANSWERS
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HEALTH INSURANCE – QUESTIONS AND ANSWERSHealth insurance is necessary because medical procedures and treatments
are very expensive. Correct Ans - True
You do not need to be concerned if there are limits on what a company will
pay for a service of medical or dental procedures. Correct Ans -
False
Some group insurance plans cover ordinary doctor visits and dental work.
Correct Ans - True
Jack King pays a $496.00 premium annually. This represents 40% of the
total premium. The rest of the premium is paid by his employer. Calculate:
1. the company's percentage
2. the total premium
3. the company's payment Correct Ans - 1. Work: First figure out
what percent the employer pays of the premium. 100-40= %60.
Answer= 60
2. Take 496 times 2, because it = 40 % so if you multiply it by to it makes it
80%. 496 times 2 is 992.
Next, take 496 divided by 2 because it is 40%, so if you divide it by 2 that
will equal 20%. 496/2 is 248. Add 992 and 248. 992+248 = $1,240
Answer: $1,240
3. Take the total premium divided by the % the company pays. $1,240
divided by 0.6 = 744
Answer: $744
Carl Major pays a $390.00 premium annually. This represents 30% of the
total premium. The rest of the premium is paid by his employer. Calculate:
1. the company's percentage
2. the total premium
3. the company's payment Correct Ans - 1. Work: First figure out
what percent the employer pays of the premium. 100-30= 70%.
Answer= 70%
2. Take 390 times 3, because it = 30 % so if you multiply it by to it makes it
90%. 390 times 2 is 1,170.
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