Colorado Life & Health Insurance Exam Questions And Correct Answers.
2 views 0 purchase
Module
COLORADO LIFE INSURANCE
Institution
COLORADO LIFE INSURANCE
utilization review - Answer a set of formal techniques to monitor the use or clinical necessity of health care, determining the application of exclusions, and the medical necessity of treatment.
30 days for electronic; 45 days for paper - Answer With a clean claim, the insured has ? days f...
Colorado Life & Health Insurance Exam
Questions And Correct Answers.
utilization review - Answer a set of formal techniques to monitor the use or clinical necessity of health
care, determining the application of exclusions, and the medical necessity of treatment.
30 days for electronic; 45 days for paper - Answer With a clean claim, the insured has ? days for paying
or denying electronic and ? days for paper claims.
Enforces - Answer The Commissioner ______ laws and does not create them.
5 years - Answer Every ____ years, a licensed insurer must be examined by the state commissioner.
Adverse selection - Answer What is a major concern for Underwriters, especially during the open
enrollment period?
Conversion privilege - Answer Allows individual policy conversion upon plan group termination
Non-taxable - Answer Benefits are taxable or non-taxable (?) to employees.
20 - Answer Employers with ___ + employees are required to offer COBRA for up to 18 months after an
employee is terminated.
Master policy - Answer In group health insurance a ______ type of policy is issued to the group
sponsor.
Impairment rider - Answer Temporary or permanent rider added to a policy that includes specific
conditions which would normally cause a policy to be declined.
Free Look Period - Answer The period of time for the insured to look over a policy after it is issued (10
days for health insurance, 15 for life)
, Class - Answer The guaranteed renewable provision states that premiums can only be increased by
_________.
Legal Actions Provision - Answer The ___________ states that one has 60 days after proof of loss with a
2-year limit on certain defenses.
Insurers - Answer The insuring clause includes ____________'s promise to pay benefits.
Proof of loss provision - Answer This provision states that the insured must provide proof of loss within
90 days, up to a 1-year maximum.
elimination period - Answer waiting period after a loss occurs before benefit period begins (30, 90
days, up to 1 year)
Part C - Answer Medicare Advantage plan, substitution for original benefits (A & B)
Medicare Part A - Answer Hospital insurance, covers inpatient and hospice
Medicare Part B - Answer Outpatient treatment, ER treatment, preventive care is looped under Part
___
Supplement Part A - Answer Also known as Medigap, this part covers core benefits, including hospice
care; premiums vary.
Guaranteed Insurability Rider - Answer Optional rider that enables the policyowner to purchase
additional amounts of coverage at predetermined times without proof of insurability
Accidental Death Benefit Rider - Answer doubles the face amount of life insurance if death occurs as a
result of an accident
Term Insurance Rider - Answer Often added to a whole life policy to increase coverage.
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller TestSolver9. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for £8.78. You're not tied to anything after your purchase.
