Health Insurance - Chapter 1 Practice Questions With 100% Correct Answers 2024

Health Insurance - Chapter 1 Practice Questions With 100% Correct Answers 2024 Under the Consolidated Omnibus Budget Reconciliation Act (COBRA), a terminated employee's benefits must? Be less extensive and premium cannot exceed 102% Be the same and the premium cannot exceed 102% Be more extensive and the premium cannot exceed 102% Be the same as well as the premium - answerBe the same and the premium cannot exceed 102% The limited period of time given to all members to sign up for a group health plan is called the? Enlistment period Sign-up period Probationary period Enrollment period - answerEnrollment period Which of the following does Coordination of Benefits allow? Allows the secondary payor to reduce their benefit payments so no more than 100% of the claim is paid Allows both a group health plan and individual health plan to coordinate their benefit payments Allows the deductible to be spread out between all the health providers Allows each health provider to pay 100% of the claim - answerAllows the secondary payor to reduce their benefit payments so no more than 100% of the claim is paid Sole proprietors are permitted tax deductions for health costs paid from their earnings in the amount of? Costs that exceed 7 ½ % of AGI Costs that exceed 10% of AGI 100% of costs No deduction permitted - answer100% of costs Sonya applied for a health insurance policy on April 1. Her agent submitted the information to the insurance company on April 6. She paid the premium on May 15 with the policy indicating the effective date being May 30. On which date would Sonya have coverage? April 1 April 6 May 15 May 30 - answerMay 30 A group disability income plan that pays tax-free benefits to covered employees is considered? Non-contributory Partially contributory Group contributory Fully contributory - answerFully contributory What is issued to each employee of an employer health plan? Provision Receipt Policy Certificate - answerCertificate Under the Health Insurance Portability and