What are the two categories of commercial insurance? A)Point Of Service and HMO B)Medicare and Medicaid C)Private (individual) and employer-based (group) D)Medicare A and Medicare B
The correct answer is C) Private (individual) and employer-based (group).
To arrive at this answer, one could start by understanding the concept of commercial insurance. Commercial insurance refers to insurance policies that are purchased by businesses or individuals to protect themselves against various risks and liabilities.
Next, identify the different types of commercial insurance categories. There are generally two main categories: private (individual) insurance and employer-based (group) insurance.
Private insurance refers to insurance plans that individuals purchase for their personal needs. These plans are typically purchased directly from insurance providers or through insurance marketplaces. Private insurance policies can cover various aspects such as health, life, auto, home, and liability insurance.
On the other hand, employer-based insurance refers to insurance plans that are provided by employers to their employees. This type of insurance is often offered as part of an employment benefits package. It can include coverage for health, dental, vision, disability, and life insurance.
By understanding the purpose and nature of commercial insurance, as well as the different types available, one can determine that the correct answer is C) Private (individual) and employer-based (group).