When does the annual open enrollment period typically occur for most health insurance plans in the United States?

When you do taxes you will receive a credit if you made less then you reported or owe if you made more.

A discount on your health insurance premium, based on your income

What is an insurance premium subsidy?

To renew or change your health insurance plan

To pay your annual health insurance premium

What is the purpose of open enrollment in health insurance?

Typically, copays, deductible, and coinsurance all count toward your out-of-pocket maximum. Keep in mind that things like your monthly premium, balance-billed charges or anything your plan doesn't cover (like out-of-network costs) do not

True or False: Your copays go towards your out of pocket max

The amount you must pay out of pocket before your insurance starts covering

What is a deductible in health insurance?

True or False: An HMO (Health Maintenance Organization) plan usually requires referrals to see specialists.

Before Obamacare insurances typicallly had a waiting period for pre-existing conditions

A medical condition that exists before getting health insurance

A condition that is not covered by insurance

What is a pre-existing condition in health insurance?

HSAs go with high deductible health insurance plans

 To save money for medical expenses, often with tax benefits

What is the purpose of a Health Savings Account (HSA)?

True or False: Short-term health insurance plans typically provide long-term coverage for chronic conditions.

Healthcare providers and facilities not covered by your insurance plan

What does "out-of-network" mean in health insurance?

Coverage is lower out of network but allows more flexibility

What type of insurance allows you to go out of network?

Trump administration did away the tax penalty on a Federal level in 2018. California, DC, Massachusetts, New Jersey, Rhode Island, and Vermont still do penalties.

What is the penalty for not having health insurance under the Affordable Care Act (ACA)?

Percentage of carrier responsibility and patient responsibility

What is coinsurance?

What is open enrollment for Medicare?

A request for a discount on medical bills

A formal request for reimbursement of covered medical expenses

A statement of non-covered medical expenses

What is a health insurance claim?

Provide the broadest choice of doctors and hospitals

Control healthcare costs by requiring primary care physician referrals

Offer low monthly premiums but high deductibles

What is a Health Maintenance Organization (HMO) plan designed to do?

A network of healthcare providers who don't accept insurance

A list of doctors, hospitals, and other healthcare facilities that contract

A network of hospitals with the best ratings

What is a "provider network" in the context of health insurance?

People who are 65 or older. Certain younger people with disabilities. People with End-Stage Renal Disease