Health Insurance Exam| Questions and Verified Answers| Grade A (2023/2024 Update)

Health Insurance Exam| Questions and Verified Answers| Grade A (2023/2024 Update) Q: What does the rehabilitation benefit cover in a disability income policy? Answer: Covers the approved cost of the rehabilitation necessary to help a disabled insured return to work Q: Which of the following BEST describes a "partial disability"? Answer: Unable to perform one or more job duties Q: Beth is a surgeon who has an own-occupation disability income policy. She was injured six months ago and has been unable to return to her practice. Her monthly benefit from the policy is $15,000. During this time, Beth has been working part-time at a local boutique and receives $2,000 monthly. What is her ongoing monthly benefit while she is unable to perform her surgical duties? Answer: $15,000 Q: Which of the following statements accurately describes the financial impact of total disability? Answer: The financial impact may be worse than that of death Q: An insured covered under a Disability Income policy is disabled and collecting benefits for a period of two months. He returns to work and is again disabled from the same cause, whereupon benefits continue to be paid. This is an example of which of the following? Answer: Recurrent disability Q: Which of the following would permit an insurer to delay a covered disability policy claim? Answer: Elimination period Q: When issuing disability income coverage on a substandard risk, an insurance company may Answer: shorten the benefit period Q: Christine is receiving benefits provided from her disability income insurance. As compared to her previous earnings, the disability benefits should be Answer: somewhat less Q: Which of the following best describes the presumptive disability provision? Answer: Waives the normal total disability requirements Q: An insured is considered to be totally disabled under the presumptive disability provision if he/she Answer: loses the ability to speak Q: Mary has a Health Savings Account (HSA). Distributions that have been made for anything other than qualified medical expenses are considered taxable and subject to a penalty of Answer: 20% Q: Dan has a Major Medical Expense policy and files two claims: one for $100 in November and the other for $400 in January. His coinsurance is 80/20 with a $200 deductible. How much will the insurance company pay under the carryover provision? Answer: $240 Q: Larry has a Major Medical Expense policy for his family with a $1,000 per family/per year deductible and an 80/20 coinsurance provision. If Larry's family files four claims of $400, $800, $100, and $700 in one year, how much will the insurance company pay? Answer: $800 Q: What is the MAXIMUM number of employees an employer may have for qualified medical savings accounts? Answer: 50 employees