Test - GBA 1 - Practice Exam: Directing Benefits Programs Part 1 Question with complete solution 2023

Test - GBA 1 - Practice Exam: Directing Benefits Programs Part 1 Question with complete solution 2023Which risk-handling techniques are being used by a firm that decides to not produce a dangerous chemical, to purchase insurance with a $10,000 deductible on its assets and to install a fire sprinkler system throughout the plant? Avoidance, retention, insurance and control Which of the following statements regarding prescription drug rebates is correct? A rebate occurs when there is an agreement between a pharmacy benefit manager and a drug manufacturer. There are several methods for evaluating health system performance. Accreditation by the NCQA is an example of which of the following methods? Audit performance evaluation When a participant of a cafeteria plan makes a one-time election on coverage that stays in force from plan year to plan year unless the participant elects to make a change during the applicable election period, it is referred to as a(n): Evergreen election The benefit-oriented philosophy of designing employee benefits tends to focus on: Needs of employees The amount of covered medical expenses that a participant must incur before any medical benefits for non-preventive care services or treatment become payable under a plan is known as the: Deductible