Tennessee Health Exam | 124 Questions With 100% Correct Solutions.

What are the 4 elements of an insurance contract? - The elements of this are: Agreement - Offer and Acceptance Consideration Competent Parties Legal Purpose How can an insurance company use the information it obtains from the MIB? -The information from this can be used to conduct further investigation into an applicant's current insurability. Explain the concept of coverage on a first-dollar basis. - This coverage does not require the insured to pay a deductible. What coverages are provided by a Major Medical Expense policy? - This will provide coverage for expenses that were not covered by the basic policy, or if the time limitation is up in the basic policy. Why do HMOs encourage members to get regular check-ups? - By doing this, it is hoped that disease will be treated in it's earliest stages when the treatment has the best chance of success. How does a POS plan differ from a traditional HMO? - In this plan, the employees do not have to be locked in to one plan or make a choice between the two plans. What is the purpose of an HSA (Health Savings Account)? - These are designed to help individuals save for qualified health expenses that they, their spouse, or their dependents occur. How long will a disability pay? - This insurance is designed to provide a reasonable and predetermined income to a party for a set period of time; this time is subject to a "time deductible: termed an elimination period.How long does an elimination period usually last? Give a range. - The range of this, found in most policies, is 30 to 180 days.