Nevada Life, Accident, Health Insurance Exam Practice
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Course
Nevada Life, Accident, Health Insurance Exm Pract
Institution
Nevada Life, Accident, Health Insurance Exm Pract
Nevada Life, Accident, Health Insurance Exam Practice
Health care accounts and Dependent care accounts ️️What are the 2 types of Flexible Spending
Accounts?
What is "managed care" in Nevada health insurance?
Managed care refers to a system where health insurance plans work with a networ...
Nevada Life, Accident, Health Insurance Exam Practice
Health care accounts and Dependent care accounts ✔️✔️What are the 2 types of Flexible Spending
Accounts?
What is "managed care" in Nevada health insurance?
Managed care refers to a system where health insurance plans work with a network of healthcare
providers to manage and coordinate care, aiming to reduce costs and improve quality. ✔️✔️
What is the "spending limit" in Nevada health insurance policies?
The spending limit, or out-of-pocket maximum, is the highest amount a policyholder will have to pay for
covered medical expenses in a policy year. After this limit is reached, the insurance company pays 100%
of covered costs. ✔️✔️
How does Nevada handle "continuation of coverage" for health insurance after employment ends?
Nevada residents who lose their job-based health insurance may be eligible for COBRA continuation
coverage, which allows them to maintain their health insurance for a limited period after employment
ends. ✔️✔️
What is "universal life insurance" in Nevada?
Universal life insurance in Nevada is a type of permanent life insurance that offers flexibility in premium
payments and death benefits, and it also builds cash value over time. ✔️✔️
What is a "primary care physician" (PCP) in Nevada health insurance?
A primary care physician (PCP) is a doctor chosen by the policyholder who provides routine care,
coordinates specialist referrals, and manages overall healthcare within a managed care network, such as
an HMO. ✔️✔️
How does Nevada regulate health insurance companies that deny claims?
, Nevada requires insurance companies to provide clear reasons for claim denials, and policyholders have
the right to appeal a denial through a formal claims process regulated by the Nevada Division of
Insurance. ✔️✔️
What is "guaranteed issue" in Nevada health insurance policies?
Guaranteed issue means that health insurance policies in Nevada must be offered to all applicants
regardless of their health status, and insurers cannot deny coverage based on pre-existing conditions.
✔️✔️
What types of life insurance policies are generally offered in Nevada?
In Nevada, the main types of life insurance offered include term life insurance, whole life insurance, and
universal life insurance, each with different benefits and features. ✔️✔️
What does "pre-authorization" mean in Nevada health insurance?
Pre-authorization is a requirement from health insurance companies in Nevada where they must
approve certain medical services or treatments before they are provided to ensure coverage. ✔️✔️
Can someone with a Nevada life insurance policy borrow money against the policy?
Yes, policyholders with certain types of life insurance, such as whole life or universal life, can borrow
money against the policy’s accumulated cash value. ✔️✔️
What is a "policy lapse" in life insurance in Nevada?
A policy lapse occurs when the policyholder fails to pay premiums for a specified period, causing the life
insurance policy to be canceled and no longer in force. ✔️✔️
Can a Nevada resident purchase an insurance policy for a business partner?
Yes, in Nevada, individuals can purchase life insurance policies for business partners through "key
person insurance" to protect the business in case of the partner’s death. ✔️✔️
How does Nevada handle "waiting periods" for pre-existing conditions in health insurance?
Under the Affordable Care Act, health insurance plans in Nevada cannot impose waiting periods for pre-
existing conditions, meaning coverage must begin immediately, regardless of health status. ✔️✔️
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