Health Final Exam - NJ Accident and Health Questions and Answers

A 10% excise tax is normally applied to an early withdrawal from an IRA. According to HIPAA, this tax will not be applied if the withdrawal is used for medical expenses that exceed ____ of the individual's adjusted gross income. - CORRECT ANSWER-7.5% A beneficiary change can occur - CORRECT ANSWER-normally at any time during the policy term A branch office registration form is required to be filed at least ___ days before selling insurance out of that branch - CORRECT ANSWER-30 A clause that allows that allows an insurer the right to terminate coverage at any anniversary date is called a(n) - CORRECT ANSWER-Optional renewability clause A common exclusion with Vision plans is - CORRECT ANSWER-lasik surgery A disability income policy can prevent an insured from earning a higher income if he/she were working by utilizing - CORRECT ANSWER-Benefit limits A doctor who accepts Medicare assignment agrees to which of the following - Doctor may charge up to a maximum of 15% more than Medicare pays for the service - Doctor is not bound by Medicare's limitations on charges - Doctor cannot charge more than Medicare's scheduled coverage - Doctor bills the Medicare beneficiary directly for services performed - CORRECT ANSWER-Doctor cannot charge more than Medicare's scheduled coverage A dread disease policy is considered to be a type of - CORRECT ANSWER-Limited health insurance policy A health insurance policy that allows an insurer to change the policy owner's premiums, but NOT cancel the policy is called a(n) - CORRECT ANSWER-Guaranteed renewable policy A health insurance policy where the insurer has