Test - GBA 1 - Practice Exam: Directing Benefits Programs Part 1 | 70 Questions with 100% Correct Answers | Verified

Test - GBA 1 - Practice Exam: Directing Benefits Programs Part 1 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, i nsurance 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 hea lth 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 yea r 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 Independen t 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 Car e Act (ACA) aimed to make health insurance more affordable by providing tax credits to individuals ineligible for other affordable coverage and with income between which of the following limits: - ✔✔100% and 400% of the federal poverty line. The concept d esigned to make victims of losses whole again reflects the principle of: - ✔✔Indemnification A mechanism by which one attempts either to prevent or reduce the probability of a loss taking place or to reduce the severity of the loss if it does take place i s referred to as: - ✔✔Control The Affordable Care Act (ACA), in general, defined a full -time employee as one employed on average at least how many hours per week? - ✔✔30