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XCEL Chapter 4 - Health And Accident Insurance Questions With Answers.
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XCEL Chapter 4 - Health And Accident Insurance Questions With Answers.
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XCEL Chapter 4 - Health And AccidentInsurance Questions With Answers.
Sole proprietors are permitted tax deductions for health costs paid from their earnings in
the amount of - ANSWER- 100% of costs
What is issued to each employee of an employer health plan? - ANSWER- Certificate
Health insurance will typically cover which of the following perils? - ANSWER- Injury
due to accident
The purpose of the Coordination of Benefits provision in group accident and health plan
is to - ANSWER- Avoid overpayment of claims
This is achieved by identifying primary and secondary insurers.
Without a section 125 plan in place, what would happen to an employee's payroll
contribution to an HSA? - ANSWER- It would be considered taxable income to the
employee
Contribution to an HSA may be made pre-tax under a Section 125 Cafeteria Plan.
Without a section 125 plan in place, it would be considered taxable income to the
employee.
A group disability income plan that pays tax-free benefits to covered employees is
considered - ANSWER- fully contributory
Under the Health Insurance Portability and Accountability Act (HIPAA), the employee's
new Group Health Plan will verify Creditable Coverage so that the - ANSWER-
Employee's waiting period for coverage of a preexisting condition can be reduced under
the new employer's health plan
Sonya applied for a health insurance policy on April 1. Her agent submitted the
information to the insurance company on April 6. She paid the premium on May 15 with
the policy indicating the effective date being May 30. On which date would Sonya have
coverage? - ANSWER- May 30
Which of the following is INELIGIBLE to participate in a Section 125 plan? - ANSWER-
An S-Corp owner with a greater than 2% share
Continued coverage under COBRA would be provided to all of the following EXCEPT: -
ANSWER- a covered employee is terminated for gross misconduct
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