Florida Health Insurance Questions and Answers with Verified Solutions

Florida Health Insurance Questions and Answers with Verified Solutions Health insurance benefits NOT covered due to an act of war are: excluded by the insurer in the contract provisions Which type of renewability best describes a Disability Income policy that covers an individual until the age of 65, but the insurer has the right to change the premium rate for the overall risk class? Guaranteed Renewable Which of the following statements about a Guaranteed Renewable Health Insurance policy is CORRECT? Premiums normally increase at time of renewal Which mode of payment is NOT used by health insurance policies? Single premium Who owns a stock company? its stockholders According to Florida law, when must an agent deliver the Outline of Coverage to a Medicare Supplement applicant? At the time of application Within how many days after policy delivery can a Medicare Supplement policy be returned for a 100% premium refund? 30 P is a producer who notices 5 questions on a health application were not answered. What actions should P take? Set up a meeting with the applicant to answer the remaining questions Group/voluntary long-term care policy premiums are typically deducted from the employee's income and, are less costly as compared to individual long term care coverage The Florida Employee Health Care Access Act was established to make group health insurance available to employers with up to 50 employees What does Medicare Parts A and B cover? Part A covers hospitalization; Part B covers doctor's services Q is hospitalized for 3 days and receives a bill for $10,100. Q has a Major Medical policy with a $100 deductible and 80/20 coinsurance. How much will Q be responsible for paying on this claim? $2,100 Which of the following health insurance policy provisions specifies the health care services a policy will provide? Insuring clause G is involved in an automobile accident as a result of driving while intoxicated and suffers numerous injuries. According to the Intoxicants and Narcotics exclusion in G's policy, who is responsible for paying the medical bills? The insured A Multiple Employer Welfare Arrangement (MEWA) provides what type of benefits? Insurance An insured owns an individual Disability Income policy with a 30-day Elimination Period for sickness and accidents and a monthly indemnity benefit of $500. If the insured is disabled for 3 1/2 months, what is the MAXIMUM amount he would receive for an approved claim? $1,250 M's insurance company denied a reinstatement application for her lapsed health insurance policy. The company did not notify M of this denial. How many days from the reinstatement application date does the insurance company have to notify M of the