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Health Insurance – Questions & Detailed Answers
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Health Insurance – Questions & Detailed Answers
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Health Insurance – Questions & Detailed AnswersWhich of the following incidents would NOT be covered by an Accidental
Death and Dismemberment policy? Correct Ans - Suicide
Which of the following statements BEST describes the HIPAA portability
rules for an individual who changes from one group medical plan to
another? Correct Ans - Reduces or eliminates any pre-existing
conditions excluded under the new plan
What type of group plan is excluded from HIPAA statutes? Correct Ans
- Disability income
Which of the following statements BEST describes disability buy-sell
insurance policies? Correct Ans - Policy proceeds are typically
received tax-free
Kate received a group accident and health termination notice. How many
days does she have to apply for a converted policy? Correct Ans -
31
How many employees must an employer have for the Consolidated
Omnibus Budget Reconciliation Act of 1985 (COBRA) to apply? Correct
Ans - 20 or more
Which parties are directly involved in a group accident and health
insurance contract? Correct Ans - Employer and insurer
Trade association groups that are eligible for group medical benefits
normally are Correct Ans - in the same industry
In regards to health insurance, employees age 65 or older are typically
required to Correct Ans - be offered the same group health benefits
offered to the younger employees
ABC Partnership is a business with a limited number of partners. Which
disability buy-sell agreement is best suited for this business? Correct
Ans - Cross purchase agreement
, How are benefit payments from individually-owned medical expense
policies treated for tax purposes? Correct Ans - Exempt from
income taxes
In which of the following situations can an insurance company offer group
Health insurance? Correct Ans - The sponsoring group provides an
employer-employee relationship
If group Health benefit levels are too high, what could be the end result?
Correct Ans - Overutilization of the plan
Group accident and health insurance may be offered by an insurer when
the sponsoring group Correct Ans - provides an employer-
employee relationship
Steve has a group disability income policy where the premiums are paid by
his employer. He elected to pay for additional residual disability coverage.
Which of the following statements is true? Correct Ans - Steve will
pay taxes on the disability benefit received from his employer, but will
receive any residual disability benefits tax-free
A characteristic of a Preferred Provider Organizations (PPO) is Correct
Ans - If service is obtained outside the PPO, benefits are reduced and
costs increase
The agreement in which hospitals and physician groups in a specific area
contract with an insurance company to provide medical care at
predetermined costs is Correct Ans - Preferred Provider
Organization (PPO)
Inpatient psychiatric care is covered under Part A Medicare for 190 days
per Correct Ans - lifetime
Medicare can be described as Correct Ans - a federal health
insurance program for individuals over the age of 65 or permanently
disabled
At what age do most people become eligible for Medicare? Correct Ans
- 65
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