Ohio health and license insurance Exam | 200 Questions verified 100%(RATED A+)

Which of these will typically authorize treatment from a specialist? - ANSWER Gatekeeper A life insurance policyowner is allowed ___ days upon policy deli every to return the policy for a full premium refund - ANSWER 10 All of the following are examples of a business continuation plan EXCEPT - ANSWER Deferred compensation The IRS states that a taxpayer's medical expenses that exceed 7.5% of their adjusted gross income tax deductible. Which of the following may be considered a medical expense under their rule? - ANSWER Long term care insurance premiums Medicaid is a government-funded program designed to provide health care to - ANSWER poor people Kathy's annuity is currently experiencing tax-deferred growth until she retires. Which phase is this annuity in? - ANSWER Accumulation period Which of the following is NOT taken into consideration when determining eligibility for Medicare benefits? - ANSWER Income Which of these is NOT considered a form of life insurance advertisement? - ANSWER Buyer's Guide A non-admitted insurer - ANSWER is not afforded protection by the guaranty fund If an insured's age on a life insurance policy has been misstated, what is the insurer's liability if the insured dies? - ANSWER A prorated death benefit based on the amount of insurance the insured's premiums would have been of purchased at the correct age An example of a health insuring corporation (HIC) specialty care provider is a(n) - ANSWER neurologist An insurer may refuse to renew an employer's small group health plan due to - ANSWER nonpayment of premiums All of the following are considered appropriate uses of life insurance for business purposes EXCEPT - ANSWER Protecting the business by covering entry level employees with life insurance What would be an expense factor in an insurance program? - ANSWER Mortality costs When a qualified plan starts making payments to its recipient, which portion of the distributions is taxable? - ANSWER Gains Julie has a $100,000 30-year mortgage on her new home. What type of life insurance could she purchase that is designed to pay off the loan balance if she dies within the 30-year period? - ANSWER Decreasing term insurance A Medicare Supplement basic benefit is - ANSWER the first 3 pints of blood per year A client told an international lie to an insurer in order to receive a favorable premium. This is an example of - ANSWER fraud A doctor who accepts Medicare Assignment agrees to which of the following? - ANSWER Doctor's cannot charge more than Medicare's scheduled coverage Coordination of benefits regulation applies to all of the following plans EXCEPT - ANSWER Preferred Provider Organization Plan A professional liability for which producers can be sued for mistakes of putting a policy into effect is called - ANSWER errors and omissions According to HIPAA, when an insured individual leaves an employer and immediately begins working for a new company that offers group health insurance, the individual - ANSWER is eligible for coverage upon hire A health insurance policy that allows an insurer to change the policyowner's premiums, but NOT cancel the policy is called a(n) - ANSWER guaranteed renewable policy Intentional withholding of material facts that would affect an insurance policy's validity is called a(n) - ANSWER concealment An insured under a Major Medical expense plan with a zero deductible and 80/20 coinsurance provision files a $1,000 claim. How much of this claim is the insured responsible for? - ANSWER $200 All of the following plans allow for employee contributions to be taken on a pre-tax basis EXCEPT