CFP 512 module 4 UPDATED ACTUAL Questions and CORRECT Answers
1. Events cauign change in cover- marriage
age divorce
death
disbaility
losing or chaning jobs
reuding number of hours worked
moving even within same state
birth 30 days old
age 26
Age 65 eligible medicare if retire must enroll in part A or face
per penality if covered by group coverage beyong age 65 thne
they dont need
2. HIPAA The Health Insurance Portability and Accountability Act, a
federal law protecting the privacy of patient-specific health
care information and providing the patient with control over
how this information is used and distributed. and elimiated
enrolling in anew employer gourp health insurnac eplan tha
tinclude a pre-exiting clause
stes can be enofrecment of a pre-exisitng meical condition
if an employee was covered by priro empeloyers health in-
surnac plan for a tleast 12 months
fewer than 63 days have elapsed since the loss of coverage
under the prioe employer;s plan
pre exiting contions as any meditcal contion that was diag-
nosed within 6 months before enorlling in enw gorup plan
3. COBRA continuation of ebenfits if employee elaves work voluntairly or involduna-
trily aplpies only to core helath insurnace overage
, term invol or vol have 18 months of continuon coverage
form dat eof qualifyin even other than gross msiconduct or
converison T
36 month everythign else besides employee meets Social
security deifnition of diabilty 29 months
employee has 60 day sto eelct bcobra beenfits 102%
prmeiums 2 % amin cost
4. PPACA (Patient Protection and The new health care reform law. This legislation creates a
Affordable Care Act) number of issues for employers that sponsor group health
plans. Extended dependent coverage for adult children up to
age 26. Elimination of pre-existing condition exclusions for
children. Prohibitions on rescission of health care coverage.
Limits on reimbursing over-the-counter medications. Com-
pliance with nondiscrimination rules for fully-insured plans.
rrual ehalth car eprovides comunity helath centers
elimiantes rpesciption cost gap in edicate part D
5. SHOP (Small Business Health requires essntial helath befits fomr all plans and elimitates
Options Program) copays for preventive care
-Online application to compare health plans
-50 or less full-time employees
Employers with fewer than 25 employees may qualify for
the Small Business Health Care Tax Credit of up to 50% of
premium costs.
Employers with fewer than 25 employees may qualify for
, the Small Business Health Care Tax Credit of up to 50% of
premium costs.
Employers with fewer than 25 employees may qualify for
the Small Business Health Care Tax Credit of up to 50% of
premium costs.
6. Medicaid a government insurance program for persons of all ages
whose income and resources are insuflcient to pay for health
car
is a federally initiated program
at least partially funded, at the state level.
provide health care coverage to children, pregnant women,
parents, and disabled individuals with low incomes
PPACA created a national Medicaid minimum eligibility level
of 133% of the federal poverty level for nearly all Americans
under age 65.
Medicaid coverage may start retroactively for up to three
months before the month of application
Poverty alone does not qualify someone for Medicaid. In
addition to income requirements, individuals need to satisfy
federal and state requirements regarding residency, immi-
gration status, and documentation of U.S. citizenship.
Potential beneficiaries must pass an asset test to be eligible
for Medicaid
Checking and savings account Stocks and bonds Certificates
1. Events cauign change in cover- marriage
age divorce
death
disbaility
losing or chaning jobs
reuding number of hours worked
moving even within same state
birth 30 days old
age 26
Age 65 eligible medicare if retire must enroll in part A or face
per penality if covered by group coverage beyong age 65 thne
they dont need
2. HIPAA The Health Insurance Portability and Accountability Act, a
federal law protecting the privacy of patient-specific health
care information and providing the patient with control over
how this information is used and distributed. and elimiated
enrolling in anew employer gourp health insurnac eplan tha
tinclude a pre-exiting clause
stes can be enofrecment of a pre-exisitng meical condition
if an employee was covered by priro empeloyers health in-
surnac plan for a tleast 12 months
fewer than 63 days have elapsed since the loss of coverage
under the prioe employer;s plan
pre exiting contions as any meditcal contion that was diag-
nosed within 6 months before enorlling in enw gorup plan
3. COBRA continuation of ebenfits if employee elaves work voluntairly or involduna-
trily aplpies only to core helath insurnace overage
, term invol or vol have 18 months of continuon coverage
form dat eof qualifyin even other than gross msiconduct or
converison T
36 month everythign else besides employee meets Social
security deifnition of diabilty 29 months
employee has 60 day sto eelct bcobra beenfits 102%
prmeiums 2 % amin cost
4. PPACA (Patient Protection and The new health care reform law. This legislation creates a
Affordable Care Act) number of issues for employers that sponsor group health
plans. Extended dependent coverage for adult children up to
age 26. Elimination of pre-existing condition exclusions for
children. Prohibitions on rescission of health care coverage.
Limits on reimbursing over-the-counter medications. Com-
pliance with nondiscrimination rules for fully-insured plans.
rrual ehalth car eprovides comunity helath centers
elimiantes rpesciption cost gap in edicate part D
5. SHOP (Small Business Health requires essntial helath befits fomr all plans and elimitates
Options Program) copays for preventive care
-Online application to compare health plans
-50 or less full-time employees
Employers with fewer than 25 employees may qualify for
the Small Business Health Care Tax Credit of up to 50% of
premium costs.
Employers with fewer than 25 employees may qualify for
, the Small Business Health Care Tax Credit of up to 50% of
premium costs.
Employers with fewer than 25 employees may qualify for
the Small Business Health Care Tax Credit of up to 50% of
premium costs.
6. Medicaid a government insurance program for persons of all ages
whose income and resources are insuflcient to pay for health
car
is a federally initiated program
at least partially funded, at the state level.
provide health care coverage to children, pregnant women,
parents, and disabled individuals with low incomes
PPACA created a national Medicaid minimum eligibility level
of 133% of the federal poverty level for nearly all Americans
under age 65.
Medicaid coverage may start retroactively for up to three
months before the month of application
Poverty alone does not qualify someone for Medicaid. In
addition to income requirements, individuals need to satisfy
federal and state requirements regarding residency, immi-
gration status, and documentation of U.S. citizenship.
Potential beneficiaries must pass an asset test to be eligible
for Medicaid
Checking and savings account Stocks and bonds Certificates
