Arizona Health Insurance Practice Exam

Who must approve a health plan for it to be considered an "accountable health plan"?

1. The policyowner

2. The director

3. The insurance carrier

4. The healthcare provider

The correct answer is: The director

For a health plan to be considered an "accountable health plan," it must receive approval from the director. This requirement stems from the regulatory frameworks established within health insurance, where the director of insurance is responsible for overseeing the market, ensuring compliance with laws, and protecting consumer interests. Accountable health plans are typically designed to coordinate care, manage costs, and improve health outcomes, and they must adhere to specific guidelines and standards set by regulatory authorities. The director's approval signifies that the plan meets the necessary criteria and regulatory requirements, thereby safeguarding that it operates within the legal framework and maintains a commitment to accountability in the delivery of health care services. While the policy owner, insurance carrier, and healthcare provider play important roles in the insurance process, their functions do not include the regulatory oversight or approval of the health plan itself. Instead, their responsibilities are more focused on the administrative and operational aspects of the health insurance system.