XCEL Chapter 12 Study Question And Answers

Minimum participation standards exist for group insurance plans in order to - ans-prevent adverse selection The Consolidated Omnibus Budget Reconciliation Act (COBRA)applies to employers who employ at least - ans-20 employees What percentage of employees must participate in a noncontributory group health before it can be put in effect - ans-100% Who is financially liable for the payment of covered claims in a fully insured group health plan? - ans-Insurer An eligible individual who would like to obtain group health insurance without providing evidence of insurability must - ans-enroll within a specified eligibility period Buy-sell plans are typically funded by which two types of insurance? - ans-Life Insurance and disability insurance Business Overhead Expense Insurance pays for - ans-business expenses when a business owner becomes disabled During the underwriting process for a group health policy, it was discovered that 15 out of 50 members of the group have major health issues.How would the insurer handle this? - ans-Accept or reject the who;e group" The approach in underwriting group health plans evaluates the group as a whole, rather