Guides d'étude, Notes de cours & Résumés

31. A group Disability Income plan that pays tax-free benefits to covered employees is considered 32. HIPAA considers which of the following as "individually identifiable health information"? 33. An employer is issued a group medical insurance policy. This single contract is known as a(n) 34. Group health plans may deny participation based upon the 35. Ron has a new employer and wishes to enroll in the company's group health plan. In determining whether his pre-existing health con...

25. P is a new employee and will be obtaining non-contributory group Major Medical insurance from her employer. Which of the following actions must she take during the open enrollment period? 26. The federal income tax treatment of employer-provided group Medical Expense insurance can be accurately described as... 27. Which of the following characteristics is associated with a large group disability income policy? 28. The provision in a Group Health policy that allows the insurer to pos...

21. ABC Partnership is a business with a limited number of partners. Which disability buy-sell agreement is best suited for this business? 22. Individuals covered with employer-paid group health plans will normally receive tax-free benefits under all of these plans EXCEPT 23. What action can an insurer take to discourage malingering and false disability claims? 24. Group accident and health insurance may be offered by an insurer when the sponsoring group Provides an employer-employee r...

50. If an employee contributes 50% toward the disability plan premium provided by an employer, what would be considered the taxable income of a $1,000 monthly disability benefit? A) $100 B) $250 C) $500 D) $1,000 51. Minimum participation standards exist for group health insurance plans in order to A) cover the agent's commission B) prevent adverse selection C) avoid treating benefits as taxable income D) meet state requirements 52. Which of the following would evidence ownership ...

60. On a major medical insurance policy, the amount that an insured must pay on a claim before the insurer will pay is known as: Deductible 61. Insurers offering Medigap policies in California must offer Medicare supplement: Plans 'A' and either Plan 'C' or 'F' 62. Part A of original Medicare provides coverage for those who are terminally ill and have six months or less to live, which is known as: Hospice care 63. An LTC policy can be replaced in all of the following situations...

81. All of the following would be different between qualified and nonqualified retirement plans EXCEPT... A. Taxation of contributors B. IRS approval requirements C. Taxation on accumulation D. Taxation of withdrawals 82. In an traditional IRA plan, who would be allowed catch-up contributions? A. Anyone with earned income B. Individuals age 50 or older C. Individuals who have dependents D. Individuals who contribute less than the allowed maximum amount 83. All of the following appl...

50. Mary is an employee who is covered with a disability income policy through her employer. She pays for the portion of the premium attributable to the cost of residual disability benefits, while her employer pays for the remainder. What are the tax implications of this policy? 51. What is the name of the period of time during which a new employee is ineligible for group Health insurance coverage? 52. Under HIPAA, medical plan late enrollees may be excluded for pre-existing conditions for...

85. A contract that heavily restricts one party while leaving the other free (as some standard form printed contracts), and implies inequality in bargaining power is: 1. A contract of adhesion 2. A conditional contract 3. An aleatory contract 4. A unilateral contract 86. There are number of clauses in an insurance contract. One of the clauses identifies the contracting parties (the insured and the insurance company) and also the scope and limits of coverage. This clause is referred to as:...

45. Many small business owners worry how their business would survive financially if the owner becomes disabled. The policy which BEST addresses this concern is 46. How does group insurance differ from individual insurance? 47. The Coordination of Benefits provision 48. What kind of Accidental Death and Dismemberment (AD&D) insurance beneficiary requires his/her consent when a change of beneficiary is made? 49. An accident policy will most likely pay a benefit for a(n) 50. The dif...

20. A group Disability Income plan that pays tax-free benefits to covered employees is considered A. Non-contributory B. Partially contributory C. Group contributory D. Fully contributory 21. Which of the following would evidence ownership in a participating health insurance contract? A. Stock ownership B. Irrevocable beneficiary status C. Policy ownership D. Collateral assignment 22. Which of the following does Coordination of Benefits allow? A. Allows the secondary payor to redu...