Xcel Final Exam 2024

Xcel Final Exam 2024 Typically, Long-Term Disability benefits are coordinated with which benefit plan? - Answer ️️ -Social Security The focus of major medical insurance is providing coverage for - Answer ️️ -medical and hospitalization expenses An insured under a Major Medical expense plan with a zero deductible and 80/20 coinsurance provision files a $1,000 claim. How much of this claim is the insured responsible for? - Answer ️️ -$200 because this policy has a zero deductible, the insures is only responsible for the 20% coinsurance on this claim, or $200 An insured has a stop-loss limit of $5,000 and an 80/20 coinsurance. The insured incurs $25,000 of covered losses. How much will the insured pay? - Answer ️️ -$5,000 Which type of plan would be the most appropriate for an individual on Medicare and concerned that Medicare will NOT pay for charges exceeding the approved amount? - Answer ️️ - Medicare supplement Plan F When can a group health policy renewal be denied according to the Health Insurance Portability and Accountability Act (HIPAA)? - Answer ️️ -when contribution or participation rules have been violated What does the word "level: in Level Term describe? - Answer ️️ -the face amount A non-contributory health insurance plan helps the insurer avoid - Answer ️️ -adverse selection because all eligible employees are usually covered, non-contributory plans are desirable from an underwriting standpoint because adverse selection is minimized. To qualify for a resident producer license in the state of Michigan, an individual - Answer ️️ - must complete the required pre-licensing education within 12 months of license application Under an expense-incurred individual health policy, what is the MAXIMUM length of time after issuance of the policy that an insurer can exclude coverage for a pre-existing condition? - Answer ️️ -12 months pre-existing conditions may be excluded for a maximum of 12 months from the date of enrollment. An insured has a health plan that pays established amounts in accordance with a list of injuries, surgical procedures, or other losses. This list is called a - Answer ️️ -bene