NY Accident and Health 17-52/Revised Questions and Answers /2024

If an insurance company obtains an investigative consumer report on a prospective insured , it MUST inform the prospect that it is permitted to do so under which of the following Federal laws ? - The Fair Credit Reporting Act What is the Fair Credit Reporting Act? - established procedures that consumer-reporting agencies must follow in order to ensure that records are confidential, accurate, relevant, and properly used Obtaining consumer information reports under false pretenses is prosecutable by which of the following? - Fair Credit Reporting Act When requesting a consumer report on a applicant, from whom must their insurer obtain consent? - The applicant How many years must credit information be retained? - 7 years What is the Gramm-Leach-Bliley Act? - Establishes rules for financial institutions on privacy notices that must be sent to consumers informing what information is collected, how it's shared and used, and how it is protected. Which federal law requires financial institutions to provide the consumer with information on how personal information is used? - Gramm-Leach-Bliley Act Which was NOT established under the Patient Protection and Affordable Care Act (ACA)? - High deductible health plans (HDHP) (HDHP is established by the IRS and not the ACA) Which insurance plans are commonly offered through the worksite (employer sponsored)? - Medicare (offered by the federal government) The benefits paid by Medicare are most similar to? - Major medical How long after being entitled to social security benefits will an individual be eligible to receive Medicare benefits? - 2 years All the following can be used to qualify for Medicare Parts A and B EXCEPT - financial need Medicare? - A federal program of health insurance for persons 65 years of age and older, people who have be entitled for social security disability, or people who have permanent kidney failure etc... What is the primary qualifier for Medicare? - Age What is the primary qualifier for Medicaid? - Financial need What is Medicare part B? - medical insurance that covers outpatient medical services; services from doctors and other health care providers, home health care, medical equipment Which statement regarding Medicare is FLASE? - Part A paid for following your retirement What is Medicare part A? - hospital insurance; inp