Indiana Navigator Questions and Correct Answers

What does FFM stand for? Ans: Federally-facilitated Marketplace The name of the federal agency within the US Dept of Health and Human Services (HHS) that administers Medicare, works in partnership with state governments to administer Medicaid and the Children's Health Insurance Program (CHIP) and oversees the federally Marketplace (FFM)/ Ans: Centers for Medicare & Medicaid Services (CMS) How many metal levels are there on the FFM and what are they? Ans: 4 - Bronze, Silver, Gold, Platinum 60/40 Ans: Bronze Level 70/30 Ans: Silver Level 80/20 Ans: Gold Level 90/10 Ans: Platinum Level FFM in IN & OH observe ___________ guidelines but maintain oversight of ____________ regulated insurance products. Ans: federal, state What does SEP mean? Ans: Special Enrollment Period The 3 types of Cost share Reductions (CSR) Ans: Deductible, Copayment, Coinsurance Changes in household (married/divorced/birth/adoption), income, and location, as well as, a loss of health coverage are all examples of what? Ans: Exceptions for Special Enrollment Period (SEP) When was the ACA passed? Ans: 2010 It's goal was to increase the number of individuals with health insurance coverage. Cannot be denied coverage for pre-existing conditions Insurance policies are guaranteed to be available and renewable Ans: Affordable Care Act (ACA) This is what helps limit out of pocket cost for health benefits. Ans: Cost Sharing Reductions (CSR) - meet all requirements for PTC (Premium Tax Credit) - enroll in Silver Plan (70% AV) on FFM - Household income 100% - 250% FPL OR Household income 100% - 300% FPL for Native