NC Medicare and Medicaid Basics | Questions with 100% correct answers | verified

*Group health insurance* is a key aspect of the health insurance market, and it is available to employer groups. - Answer-Mike and Joyce's medical expense insurance coverage is provided by their employer, Acme MFG, Inc. As such, how is their insurance provided? A group health plan that offers dependent coverage must continue such coverage for an employee's adult child until the child turns *26 years old*, whether or not the child is married. - Answer-Under the Patient Protection and Affordable Care Act (PPACA), until what age are dependent children eligible to be covered under their parent's group medical insurance policy? provide financial protection against the expenses of medical care - Answer-What is the basic purpose of health insurance? If Bob had submitted a premium with his application, the producer would be required to give him either a binding or a conditional receipt. A binding or conditional receipt is not required when an application is submitted without a premium payment. - Answer-Bob applied for a health insurance policy but did not submit the premium with his application. If the insurer issues the policy as applied for, the producer must then take all of the following actions, EXCEPT: disability insurance - Answer-Which type of health insurance benefit is paid weekly or monthly due to injury or sickness and is based on the insured's wages? accidental death and dismemberment insurance - Answer-Which of the following types of health insurance pays a lump-sum benefit if the insured suffers the loss of an arm or leg in an accident? disability income policies - Answer-Which of the following types of health insurance provides income when the insured cannot work because of a disability? subrogation - Answer-Becky was injured in an auto accident. Her insurance company covered her claims and then tried to recover its payments from the other driver's insurance company. Her insurer's right to do this known as: The goal of the PPACA is to ensure that all Americans are covered under a medical insurance plan, and to enforce that goal, a penalty is assessed to most individuals who do not comply with the coverage requirement. The penalty for adults is higher than it is for children under age 18. - AnswerWith respect to penalties and fines for noncompliance with the coverage requirements of the Patient Protection and Affordable Care Act, all of the following statements are correct EXCEPT: Commercial insurers write traditional indemnity plans that reimburse the insured for the cost of health care received, while *managed care plans* offer health care through a network of health care providers and medical facilities. - Answer-Which of the following types of medical expense insurers generally requires or encourages insureds to use a network of health care providers for their medical care? A conditional receipt gives the applicant coverage from the date of the medical exam (if required) or the signed application; whichever is later. *If the applicant turns out to be uninsurable, the insurer is not liable for claims during the underwriting period. It returns the premium to the applicant.* - Answer-After Sandra submitted the initial premium with her application for an individual health insurance policy, the producer gave her a conditional receipt. The next week, Sandra suffered a serious injury in a car accident. If Sandra was found to be uninsurable as of the date of application, what is the insurer's responsibility? viatical settlement - Answer-Which is not a type of health insurance? limited benefits policies - Answer-Which of the following types of health insurance covers specific conditions or provides benefits for specific health service