Medicare Coverage Scenarios: Verified Questions and Answers
Which contract provision forgives the payment of all health or disability insurance
premiums
while the insured is disabled? – ANSWER waiver of premium
Insurance solicitation includes all of the following activities EXCEPT
- ANSWER publishing a newspaper in which one of the advertisers is an insurance
agent.
In insurance terminology, "indemnify" means
- ANSWER make whole
A life insurance policy dividend is
- ANSWER legally defined as a return of excess premium and not taxable.
What type of insurance is usually purchased in connection with a mortgage loan?
– ANSWER Decreasing term
With Medicare coverage
- ANSWER Part B provides benefits for diagnostic tests and X-rays performed on
outpatient basis
What is the first step in submitting Medicare claims?
- ANSWER The medical provider submits expenses to Medicare.
,According to the California Insurance Code, an "insurance broker" is
- ANSWER compensated for transacting insurance on behalf of another person
with an insurer.
According to the Employee Retirement Income Security Act of 1974 (ERISA)
fiduciary
standards, benefit plans are operated for
- ANSWER plan participants and beneficiaries
Which of the following is a characteristic of nonqualified annuities?
- ANSWER Tax deferred earnings
Which of the following coverages is NOT one of the three traditional benefits of a
group
basic medical expense plan?
- ANSWER Private nursing expense
What does the statement "Lite insurance creates an immediate estate" mean?
- ANSWER The total death benefit is paid whenever the insured dies
Which of the following is a requirement of a contract?
- ANSWER There must be equal consideration between parties
The type of health care provider that provides both the health care services and
the health
care coverage is called:
, - ANSWER A Health Maintenance Organization
Nearly every life insurer in the United States belongs to the
- ANSWER Medical Information Bureau
A contract of indemnity is one in which
- ANSWER one party is restored to the same financial position the party was in
before the loss occurred
A "nonoccupational" disability policy is one which
- ANSWER excludes coverage for injuries incurred while engaged in activities for
wage or profit
Which statement describes a life insurance policy dividend?
- ANSWER distribution of excess funds accumulated by the insurer on
participating policies
Beginning January 1, 2014, a health insurance issuer that offers health insurance
coverage
in the individual market must cover 10 essential health benefits. All of the
following benefits
are essential health benefits EXCEPT
- ANSWER adult dental coverage
All of the following are characteristics of adverse selection EXCEPT
Which contract provision forgives the payment of all health or disability insurance
premiums
while the insured is disabled? – ANSWER waiver of premium
Insurance solicitation includes all of the following activities EXCEPT
- ANSWER publishing a newspaper in which one of the advertisers is an insurance
agent.
In insurance terminology, "indemnify" means
- ANSWER make whole
A life insurance policy dividend is
- ANSWER legally defined as a return of excess premium and not taxable.
What type of insurance is usually purchased in connection with a mortgage loan?
– ANSWER Decreasing term
With Medicare coverage
- ANSWER Part B provides benefits for diagnostic tests and X-rays performed on
outpatient basis
What is the first step in submitting Medicare claims?
- ANSWER The medical provider submits expenses to Medicare.
,According to the California Insurance Code, an "insurance broker" is
- ANSWER compensated for transacting insurance on behalf of another person
with an insurer.
According to the Employee Retirement Income Security Act of 1974 (ERISA)
fiduciary
standards, benefit plans are operated for
- ANSWER plan participants and beneficiaries
Which of the following is a characteristic of nonqualified annuities?
- ANSWER Tax deferred earnings
Which of the following coverages is NOT one of the three traditional benefits of a
group
basic medical expense plan?
- ANSWER Private nursing expense
What does the statement "Lite insurance creates an immediate estate" mean?
- ANSWER The total death benefit is paid whenever the insured dies
Which of the following is a requirement of a contract?
- ANSWER There must be equal consideration between parties
The type of health care provider that provides both the health care services and
the health
care coverage is called:
, - ANSWER A Health Maintenance Organization
Nearly every life insurer in the United States belongs to the
- ANSWER Medical Information Bureau
A contract of indemnity is one in which
- ANSWER one party is restored to the same financial position the party was in
before the loss occurred
A "nonoccupational" disability policy is one which
- ANSWER excludes coverage for injuries incurred while engaged in activities for
wage or profit
Which statement describes a life insurance policy dividend?
- ANSWER distribution of excess funds accumulated by the insurer on
participating policies
Beginning January 1, 2014, a health insurance issuer that offers health insurance
coverage
in the individual market must cover 10 essential health benefits. All of the
following benefits
are essential health benefits EXCEPT
- ANSWER adult dental coverage
All of the following are characteristics of adverse selection EXCEPT
