GBA 1 Exam : Directing Benefits Programs Part 1 2024 Questions & Answers | 100% Correct | Verified

Which 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 The Supreme Court decision in National Federation of Independent Business v. Sebelius had a profound effect on the implementation of the Affordable Care Act (ACA). Which of the following statements summarizes the impact of this case? - The decision made Medicare expansion by the states voluntary. The Affordable Care Act (ACA) aimed to make health insurance more affordable by providing tax credits to individuals ineligible for other affordable coverage and wit