CEBS GBA 2 EXAM QUESTIONS AND ANSWERS WITH
COMPLETE SOLUTIONS VERIFIED LATEST UPDATE
Ensures that experienced professionals are
managing claims, gives access to return- to-
Benefits of STD group work support and fraud-prevention services,
policies and locks in a fixed amount of
monthly financial obligation (premiums)
regardless of the disability benefits being paid.
The law of large numbers As the size of the same increases, the sample
states that: mean gets closer to the population mean.
Indemnification of losses means reimbursement to the
Indemnification insured if a loss occurs. In
theory, indemnification restores the individual
to their preexisting state had the loss not
occurred.
Occurs because individuals and businesses that
Adverse Selection are more likely to have claims are more
inclined to purchase insurance than those that
are less likely to have claims. This exists
because individuals know more about their
, health status than do insurers.
Premise that payments are made only for random
Moral Hazard losses which creates moral hazard.
Moral hazard is faced by insurers because individuals
are more likely to use
unneeded health services when they are not paying the
full cost of those services.
Coinsurance A type of insurance in which the insured pays a
share of the payment made against a claim in
excess of the deductible.
Generic term for any outside party, insurance
Third-Party Payers company or a government program, which
pays for part or all of a patient's health care
services. Health insurers can be categorized
into two broad groupings: private insurers
and public programs.
A federal program of health insurance established by
Medicare Congress in 1965 to provide
medical benefits to persons 65 years of age and
older. Also covers health care costs associated
with selected disabilities and illnesses,
, regardless of age.
Began in 1966. A federal and state
Medicaid assistance program that pays for health care
services for people who cannot afford them.
Mandatory nursing home benefit added in
1972.
COMPLETE SOLUTIONS VERIFIED LATEST UPDATE
Ensures that experienced professionals are
managing claims, gives access to return- to-
Benefits of STD group work support and fraud-prevention services,
policies and locks in a fixed amount of
monthly financial obligation (premiums)
regardless of the disability benefits being paid.
The law of large numbers As the size of the same increases, the sample
states that: mean gets closer to the population mean.
Indemnification of losses means reimbursement to the
Indemnification insured if a loss occurs. In
theory, indemnification restores the individual
to their preexisting state had the loss not
occurred.
Occurs because individuals and businesses that
Adverse Selection are more likely to have claims are more
inclined to purchase insurance than those that
are less likely to have claims. This exists
because individuals know more about their
, health status than do insurers.
Premise that payments are made only for random
Moral Hazard losses which creates moral hazard.
Moral hazard is faced by insurers because individuals
are more likely to use
unneeded health services when they are not paying the
full cost of those services.
Coinsurance A type of insurance in which the insured pays a
share of the payment made against a claim in
excess of the deductible.
Generic term for any outside party, insurance
Third-Party Payers company or a government program, which
pays for part or all of a patient's health care
services. Health insurers can be categorized
into two broad groupings: private insurers
and public programs.
A federal program of health insurance established by
Medicare Congress in 1965 to provide
medical benefits to persons 65 years of age and
older. Also covers health care costs associated
with selected disabilities and illnesses,
, regardless of age.
Began in 1966. A federal and state
Medicaid assistance program that pays for health care
services for people who cannot afford them.
Mandatory nursing home benefit added in
1972.
