Indemnity plans - Study guides, Class notes & Summaries

prepaid service plans - correct answer this type of plan provided a set allowance (level of benefit) for hospital/medical services and paid them directly to the provider ex: blue cross blue shield indemnity plans - correct answer plans that reimbursed or indemnified a set dollar amount to the subscriber first dollar coverage - correct answer plan pays benefits from the minute an expense is incurred. the subscriber pays no expense. this model was used in early hospital and medical ...

MI Insurance Exam Questions and Answers Rated A an insurance applicant with a below average likelihood of loss is typically considered to be Preferred Risk Tim is covered under a group plan and would like to change is group coverage to an individual policy with the name insurer because of employment termination. Which of these describes the change that will take place? Conversion Matt is applying for life insurance and requests a double indemnity rider. A double indemnity benefit...

Entire Contract Provision - ANSWER found at the beginning of the policy, saying that the policy cannot refer to any outside documents as being part of the contract and prohibiting the insurer from making any changes to the policy after it has been issued. (can only make good changes not bad) Insuring Clause - ANSWER sets forth the company's basic promise to pay benefits upon the insured's death. Free-Look Provision - ANSWER gives policyowners the right to return the policy for a full pre...

Depreciation expense that is calculated in accordance with GAAP using the straight-line method is obtained by: a. Dividing the historical cost of the asset by the number of years of its estimated useful life. b. Dividing the historical cost of the asset by the annual cost of maintaining the asset. c. Dividing the present-day value of the asset by the number of years of its estimated useful life. d. Dividing the historical cost of the asset (less its estimated salvage value) by the number of...

Montana Insurance Laws and Regulations Exam Questions With Correct Verified Answers A+ Graded policy loans must be available on permanent policies after premiums have been paid for ____ years 3 producers must report insurance fraud to the commissioner within ____ days 60 Which is a nonprofit corporation that provides prepaid health care to members? Health Service Corporation the commisoner must hold a public hearing within ___ days upon written demand by any person 30 ...

Depreciation expense that is calculated in accordance with GAAP using the straight-line method is obtained by: a. Dividing the historical cost of the asset by the number of years of its estimated useful life. b. Dividing the historical cost of the asset by the annual cost of maintaining the asset. c. Dividing the present-day value of the asset by the number of years of its estimated useful life. d. Dividing the historical cost of the asset (less its estimated salvage value) by the number of...

PENNSYLVANIA STATE HEALTH AND LIFE INSURANCE EXAM 2024 Plan A - correct answer Which of the following must be present in all medicare supplement plans? National Do not call registry - correct answer What was created to keep telemarketers from calling consumers who do not wish to be contacted? Indemnity - correct answer Which insurance principle states that if a policy allows for greater compensation than the financial loss incurred, the insured may only receive benefits for the amount l...

What is an insurance solicitor authorized to do? - Help an agent or broker sell insurance According to the California Insurance Code, what is "insurance"? - A contract What does a Hospital Confinement indemnity policy pay for? - Pay a specified daily amount while the insured is confined to a hospital According to the California Insurance Code, how is the word "may" interpreted? - Permissive Which statement is CORRECT when describing a contract of adhesion? - Contract may be accepted or r...

California Life, Accident, and Health Licensing Exam Questions and Answers 100% Pass Co-insurance - Correct Answer ️️ -The policy provision which requires the insurer and the insured to share in the cost of services rendered Exclusion ratio - Correct Answer ️️ -The formula which is used by the IRS to determine how much is taxable to an annuitant during the pay out period. Occupational policy - Correct Answer ️️ -When a disability income policy provides coverage for injuries wh...

NCCT Billing certification extra study questions and answers Payment of premium deductible and coinsurance - Answer-Which conditions need to be met before payment is made under an Indemnity Plan? any provider - Answer-Under an Indemnity Plan, typically a patient may use the services of: after medical services are provided - Answer-Under a fee-for-service plan, the third party payer makes a payment: $680 - Answer-How much is owed for service of $1800 on an indemnity plan with a deductibl...