Illinois Health Insurance Practice Exam

Question: 1 / 400

What was the original purpose of establishing Private Health Insurance Companies?

A. To provide free healthcare services

B. To regulate government insurance programs

C. To issue risk indemnity policies

The original purpose of establishing Private Health Insurance Companies was to issue risk indemnity policies. These companies were created to offer financial protection against the risk of incurring medical expenses, ensuring that individuals could have coverage for healthcare services in exchange for premium payments. This function distinguishes private health insurance companies from other options like providing free healthcare services, regulating government insurance programs, or facilitating tax audits for insurance policies.

Get further explanation with Examzify DeepDiveBeta

D. To facilitate tax audits for insurance policies

Next Question

Report this question

Subscribe

Get the latest from Examzify

You can unsubscribe at any time. Read our privacy policy