General Insurance 7

Chapter 15

Please remember that you must do your own work. Any plagiarism will result in a grade of zero for all students involved. Please use your own words even if you are using the textbook for answers. Always provide a citation when a reference is used.

1. Briefly discuss the major provisions of the Affordable Care Act that have a significant impact on individuals and families.

2. Explain the reasons for deductibles and coinsurance in medical expense policies.

3. Briefly explain the major characteristics of a health savings account (HSA).

4. Explain the following renewal provisions that may appear in individual health insurance policies:

a. Guaranteed renewable:

b. Noncancelable:

c. Conditionally renewable:

d. Nonrenewable:

e. Guaranteed issue:

5. Brad, age 26, recently graduated from college. He had coverage earlier as a dependent under his father’s group health insurance policy, which provided coverage for him to age 26. However, he has been unable to find a job because of a soft labor market and high unemployment in the city where he lives. He is concerned that if he should become sick or injured, he will have no health insurance to pay his bills. Identify the provision in the Affordable Care Act that will enable Brad to keep his insurance.