Help
Options
Didn't know it?
click below
click below
Knew it?
click below
click below
Don't Know
Remaining cards (0)
Know
retry
shuffle
restart
0:00
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.
Normal Size Small Size show me how
Normal Size Small Size show me how
Chapter 9
Other Health Insurance Concepts
| Question | Answer |
|---|---|
| According to the PPACA metal levels classification, if a health plan is expected to cover 90% of the cost for an average population, and the participants would cover the remaining 10%, what type of plan is that? | Platinum |
| The coverage provided by a disability income policy that does not pay benefits for losses occurring as the result of the insured's employment is called | Nonoccupational coverage. |
| In an individual long-term care insurance plan, the insured is able to deduct the premiums from taxes. What income taxation will be imposed on the benefits received? | No Tax |
| All of the following are true of the Key Person disability income policy EXCEPT | Benefits are considered taxable income to the business. |
| Under which condition would an employee's group medical benefits be exempt from income taxes? | An employee's group medical benefits are generally exempt from taxation as income. |
| When an insurer combines two periods of disability into one, the insured must have suffered a | Recurrent disability. |
| Which of the following definitions would make it easier to qualify for total disability benefits? | The more liberal "own occupation" |
| All of the following are true regarding Key Employee Disability Income insurance EXCEPT | Benefits are taxable to the employer. |
| The transfer of an insured's right to seek damages from a negligent party to the insurer is found in which of the following clauses? | Subrogation |
| An employee insured under a group health policy is injured in a car wreck while performing her duties for her employer. This results in a long hospitalization period. Which of the following is true? | The group plan will not pay because the employee was injured at work. |
| Premium payments for personally-owned disability income policies are | Not tax deductible. |
| A man works for Company A and his wife works for Company B. The spouses are covered by health plans through their respective companies that also cover the other spouse. If the husband files a claim, | The insurance through his company is primary. |
| Premiums paid by self-employed sole proprietors or partners for medical expense insurance are | Totally tax deductible. |
| A brain surgeon has an accident and develops tremors in her right arm. Which disability income policy definition of a total disability will cover her for all losses | “Own occupation” - less restrictive than other definitions |
| Which of the following is correct regarding the taxation of group medical expense premiums and benefits? | Premiums are tax deductible and benefits are not taxed |
| To comply with the requirements of the Affordable Cart Act, if an. Insurer rescinds coverage, they must provide the insured advance notice of at least | 30 days |
| Which of the following are the main factors taken into account when calculating residual disability benefits? | Present earnings and earnings prior to disability |
| Under what condition are group disability income benefits received by an. Employee NOT taxable as income? | When the benefits received are equal or les than the employee’s percentage of the contribution |
| Which of the following is NOT true of Disability Buy-Sell coverage? | Benefits are considered taxable income to the business |
| Under workers compensation, which of the following benefits are NOT included? | Legal benefits |
| An insured is covered by a partially contributory group disability income plan that pays benefits of $4000 a month. If the insured pays 25% of the monthly premium, how much of the monthly benefit would be taxable? | $3,000 |
| Under the Affordable Care Act, what percentage of preventative care must be covered without cost sharing? | 100% |
| A husband and wife are insured under groups health insurance plans at their own places of employment and as dependents under their spouse’s coverage. If one of them incurs hospital expenses, how will those expenses likely be paid? | The benefits will be coordinated |
| In ALL health care plans under the Affordable Care Act (ACA) how many essential benefit categories are there? | 10 |
Created by:
Hayley92