KY HEALTH INSURANCE QUESTIONS AND ANSWERS

Social security taxes are paid by employees with - Answer-after tax dollars The premiums paid by a company for group health insurance for its employees are - Answer-Tax deductible by the company and not considered taxable income to the employees Premiums for individually-owned health insurance policies may be deductible if the taxpayers medical expenses exceed - Answer-7.5% AGD Benefits paid by individually-owned accident, health, disability, or LTC policies are generally - Answer-Income tax free by the taxpayer if benefits do not exceed actual expenses Qualified long term care coverage is - Answer-Deductible by the employer but not the employee Individual disability insurance premiums are - Answer-Not deductible to the insured, by benefits are received tax free Are premiums for key employment insurance tax deductible? - Answer-No The maximum amount that the Kentucky life and health insurance guaranty association will cover respect to any life - Answer-$300,000 The initial amount of credit life insurance may not exceed - Answer-The total amount repayable under the contract of INDEBTEDNESS When a husband and wife are insured jointly under a credit life insurance policy, the premium may not exceed - Answer-150% If a fraternal benefit society provides benefits on the lives of children, the age requirement for adult membership may not be less than - Answer-15 Under a health benefit plan, what action may an insurer properly take on the basis of a genetic test for which symptoms have not yet manifested? - Answer-Renew the policy How long is the free look period? - Answer-10 days A Medicare supplement policy must provide a free loom period of at least - Answer-30 days