Medical Expense Insurance 2023 Exam Questions with Complete Solutions

Medical Expense Insurance 2023 Exam Questions with Complete Solutions In Major Medical Expense policies, what is the intent of a Stop Loss provision? -Limits an insurer's premium increases -Limits an insurer's liability -Limits an insured's out-of-pocket medical expenses -Limits an insured's coverage for pre-existing conditions - CORRECT ANSWER limits an insured's out-of-pocket medical expenses Which of the following costs would a Basic Hospital/Surgical policy likely cover? -Surgically removing a facial birthmark -Care given at a nursing home -Treating a wound from a soldier injured at war -Lost income caused by a hospital stay - CORRECT ANSWER surgically removing a facial birthmark 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 $2,020 $2,000 $100 - CORRECT ANSWER $2,100 For which of the following expenses does a Basic Hospital policy pay? Hospital room and board Prescription medication Surgical fees Physician's fees - CORRECT ANSWER hospital room and board In order to establish a Health Reimbursement Arrangement (HRA), it MUST -be offered in conjunction with other employer provided health benefits -limit the benefits to prescription drugs only -be established by the employer -limit the amount of money the employee can contribute toward the account - CORRECT ANSWER be established by the employer