Certified Application Counselor Practice Test

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What is a useful tool for consumers to estimate savings?

Financial advisor tool
Claim submission tool
Savings estimator tool
Insurance calculator tool

The correct answer is: Savings estimator tool

The savings estimator tool is specifically designed for consumers to assess their potential savings based on various factors such as income, household size, and chosen health plans. This tool typically takes into account different variables that can impact financial outcomes, such as subsidies available through healthcare programs, allowing users to get a clearer picture of how much they might save on their healthcare costs. In contrast, financial advisor tools focus on overall financial planning rather than specific savings estimates related to health care. Claim submission tools are intended for processing and submitting claims for healthcare services, which does not directly relate to estimating savings. Insurance calculator tools might help consumers understand premium costs or coverage details, but they do not provide a comprehensive view of potential savings in the way a savings estimator tool does.