Florida 2-40 Health License Exam Questions
with Certified Solutions
tax considerations for health insurance- individual Medicare supplement -
Answer: premiums not deductible*
benefits not taxable
tax considerations for health insurance- group Medicare supplement - Answer:
premiums deductible for employer
benefits not taxable
tax considerations for health insurance- buy-sell - Answer: premiums not
deductible
benefits not taxable
Page 1 of 8
, tax considerations for health insurance- key person - Answer: premiums not
deductible
benefits not taxable
tax considerations for health insurance- BOE - Answer: premiums deductible for
employer
benefits taxable
tax considerations for health insurance- NOTE* - Answer: unless combined
premiums and unreimbursed medical expenses exceed 7.5% of adjusted gross
income, and subject to the tax qualified limitations
residual disability - Answer: is the type of disability income policy that provides
benefits for loss of income when a person returns to work after a total disability,
but is not able to work as long or at the same they worked before becoming
disabled. many companies have replaced partial disability with residual disability.
residual disability will help pay for loss of earnings. if the personcan only work
part time or at a lesser paying position, residual disability will make up the
difference between their present earning and what they were earning prior to
becoming disabled
managed care - Answer: any medical plan that attempts to contain costs by
controlling the behavior of participants is considered a managed care program. a
true managed care plan should have 5 basic characteristics
Page 2 of 8
with Certified Solutions
tax considerations for health insurance- individual Medicare supplement -
Answer: premiums not deductible*
benefits not taxable
tax considerations for health insurance- group Medicare supplement - Answer:
premiums deductible for employer
benefits not taxable
tax considerations for health insurance- buy-sell - Answer: premiums not
deductible
benefits not taxable
Page 1 of 8
, tax considerations for health insurance- key person - Answer: premiums not
deductible
benefits not taxable
tax considerations for health insurance- BOE - Answer: premiums deductible for
employer
benefits taxable
tax considerations for health insurance- NOTE* - Answer: unless combined
premiums and unreimbursed medical expenses exceed 7.5% of adjusted gross
income, and subject to the tax qualified limitations
residual disability - Answer: is the type of disability income policy that provides
benefits for loss of income when a person returns to work after a total disability,
but is not able to work as long or at the same they worked before becoming
disabled. many companies have replaced partial disability with residual disability.
residual disability will help pay for loss of earnings. if the personcan only work
part time or at a lesser paying position, residual disability will make up the
difference between their present earning and what they were earning prior to
becoming disabled
managed care - Answer: any medical plan that attempts to contain costs by
controlling the behavior of participants is considered a managed care program. a
true managed care plan should have 5 basic characteristics
Page 2 of 8
