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HEALTH INSURANCE FLORIDA 2-40 PRACTICE EXAM | QUESTIONS & ANSWERS (VERIFIED) | LATEST UPDATE | GRADED A+ & PASSEDHEALTH INSURANCE FLORIDA 2-40 PRACTICE EXAM | QUESTIONS & ANSWERS (VERIFIED) | LATEST UPDATE | GRADED A+ & PASSED All of th $17.49
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HEALTH INSURANCE FLORIDA 2-40 PRACTICE EXAM | QUESTIONS & ANSWERS (VERIFIED) | LATEST UPDATE | GRADED A+ & PASSEDHEALTH INSURANCE FLORIDA 2-40 PRACTICE EXAM | QUESTIONS & ANSWERS (VERIFIED) | LATEST UPDATE | GRADED A+ & PASSED All of th

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Which of the following is NOT a form of medical insurance? -Business overhead expense -Surgical expense -Hospital expense -Long term care Correct Ans, Business overhead expense (Explanation Business Overhead Expense insurance is designed to reimburse a business for overhead expenses in the ev...

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  • February 2, 2024
  • 130
  • 2023/2024
  • Exam (elaborations)
  • Unknown

Subjects

  • health insurance florida 2 40 practice exam que
  • which of the following is not a form of medical in

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  • FLORIDA 2-40 HEALTH LICENSE
  • FLORIDA 2-40 HEALTH LICENSE

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HEALTH INSURANCE FLORIDA 2-40
PRACTICE EXAM | QUESTIONS &
ANSWERS (VERIFIED) | LATEST
UPDATE | GRADED A+ & PASSED


Which of the following is NOT a form of medical insurance?

-Business overhead expense

-Surgical expense

-Hospital expense

-Long term care

Correct Ans- Business overhead expense (Explanation:Business Overhead Expense

insurance is designed to reimburse a business for overhead expenses in the event a

business owner becomes disabled. Expenses such as rent, utilities, telephone,

equipment, employees' salaries, etc.)



All of the following are state or federal government programs that provide health

insurance, EXCEPT?

-Medicare

-OASDI disability

-Medicaid

-Medigap

,Correct Ans- Medigap (Explanation:A Medigap policy is a Medicare supplement

insurance policy sold by private insurance companies to fill "gaps" in Medicare Parts A

and B.)



What type of health insurance is available to assist low-income individuals?

Correct Ans- Medicaid



What types of reserves are set aside and held by health insurance companies?

Correct Ans- Premium and Claims reserves (Explanation:Reserves are set aside for

the payment of future claims.)



Group health insurance is generally written on a basis that provides for dividends or

experience rating. What is the basis called?

Correct Ans- Participating (Explanation:Group plans written by mutual companies

provide for dividends while stock companies frequently issue experience-rated plans.)



Which of the following is NOT TRUE regarding eligibility for subsidies for families under

the new health care act?

-For those who make between 100-400% of the Federal Poverty -Level

-Cannot be covered by an employer

-Cannot be eligible for Medicare

-Can be eligible for Medicaid

Correct Ans- Can be eligible for Medicaid

,Which of the following operates as a corporation, society, or association to provide life

insurance primarily for the mutual benefit of its members, has a lodge or social system

with rituals and representative form of government?

A) Mutual companies

B) Fraternal associations

C) Stock companies

-Fraternal benefit society

Correct Ans- B) Fraternal associations



What does each member pay in a typical HMO plan?

-Fixed premium based on a deductible and copay

-Fixed premium whether or not plan is used

-Premium based on how often plan is used

Correct Ans- Fixed premium whether or not plan is used



Which of the following is correct about those who are eligible for Medicare and wish to

join an HMO?

-They must have a current Medicare supplement policy

-They must be told that'll be getting all the benefits from the Medicare Advantage plan

-They must be age 70 and above

-They must have been enrolled previously in an HMO

, Correct Ans- They must be told that'll be getting all the benefits from the Medicare

Advantage plan



Joyce is totally disabled. Her HMO policy just terminated. All of the following are correct

regarding "extension of benefits" for Joyce, EXCEPT?

-Coverage ends once maximum benefits have been exhausted

-Coverage ends once another carrier assumes coverage

-Coverage ends if no longer totally disabled

-Coverage ends after 18 months

Correct Ans- Coverage ends after 18 months



All of the following are correct regarding Florida regulation of HMOs, EXCEPT?

-Must obtain a Certificate of Authority

-Must file a report of its activities within 3 months of the end of each fiscal year

-Must deposit $100,000 with the Rehabilitation Administration Expense Fund

-Must be sold by agents licensed and appointed as health insurance agents

Correct Ans- Must deposit $100,000 with the Rehabilitation Administration Expense

Fund (Explanation:

They must deposit $10,000 with the Rehabilitation Administration Expense Fund.)



What is "capitation" as it relates to an HMO?

-Amount to be collected by the HMO from participating health care providers

-Fixed amount paid by an HMO during a policy period

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