Nonparticipating plan - Study guides, Class notes & Summaries

EPO Answer ...provides benefits to subscribers who are required to receive services from network providers IDS Answer ...organizations of affiliated providers sites that offer joint healthcare services to subscribers HMO Answer ...providers comprehensive healthcare services to voluntarily enrolled members on a prepaid basis POS Answer ...patients can use the managed care panel of providers (paying discounted healthcare cost) or self-refer to out-of-network providers (and pay higher cost...

Life Insurance Exam Prep Questions and Answers Rated A+ Primary purpose for a rating service company such as A.M best? To determine financial strength of an insurance company Primary reason for buying life insurance? Provide death benefits What is described as an insurers ability to make unpredictable payouts to its policy owners? Liquidity What is described as a plan in which an employer pays insurance benefits from a fund derived from the employers current revenue? Self-Funded Plan Which p...

The type of policy where the insurer can send a notice to the insured that the policy has been cancelled in the middle of the term is called? A) non-cancelable B) conditionally renewable C) optionally renewable D) cancelable Answer- D)cancelable The cause of a loss is referred to as a(n) A) hazard B) adversity C) peril D) risk Answer- C) peril Maria is a Preferred Provider Organization (PPO) subscriber and received care from an out-of-network provider. Which of the following is the...

Joe and Mary are a married couple and both carry insurance from their employers. Joe was born on February 23, 1977 and Mary was born on April 4, 1974. Using the birthday rule, who carries the primary insurance for their children for billing? A. Joe, because he is the male head of the household. B. Mary, because her date of birth is the 4th and Joe's date of birth is the 23rd. C. Mary, because her birth year is before Joe's birth year. D. Joe, because his birth month and day are ...

Stock Insurer A nonparticipating company is sometimes called a Insurance Sales Calls The Do Not Call Registry offers exemptions for calls placed from all the following EXCEPT $5,000 Ken is a producer who has obtained Consumer Information Reports under false pretenses. Under the Fair Credit Reporting Act, what is the maximum penalty that may be imposed on Ken? A self-funded plan A plan in which an employer pays insurance benefits from a fund derived from the employer's current revenues is c...

What is considered to be the primary reason for buying life insurance? - Answer-Provide death benefits Karen is a producer who has obtained personal information about a client without having a legitimate reason to do so. Under the McCarran-Feguson Act, what is the minimum penalty for this? - Answer- $10,000 or up to 1 year in jail A nonparticipating company is sometimes called a(n) - Answer-Stock insurer, because policyholders do not participate in dividends resulting from stock ownership. ...

CPB Practice Exam A Joe and Mary are a married couple and both carry insurance from their employers. Joe was born on February 23, 1977 and Mary was born on April 4, 1974. Using the birthday rule, who carries the primary insurance for their children for billing? A. Joe, because he is the male head of the household.B. Mary, because her date of birth is the 4th and Joe's date of birth is the 23rd.C. Mary, because her birth year is before Joe's birth year.D. Joe, because his birth month ...

Why are dividends from a mutual insurer not subject to taxation? Correct Answer: because dividends are considered to be a return of premium ABC insurance company transfers part of their risk to XYZ insurance company. This situation is called Correct Answer: reinsurance A nonparticipating company is sometimes called a(n) Correct Answer: stock insurer What is considered to be the primary reason for buying life insurance? Correct Answer: provide death benefits A(n) _____ company is owned ...

An insurer's ability to make unpredictable payouts to policy owners is called - correct answer Liquidity Fraternal Benefit Society has each of the following characteristics EXCEPT - correct answer Exist for Profit. FBS are non-profit entities that exist for the benefit of their members An insurer's claim settlement practices are regulated by the: - correct answer State insurance departments Why are dividends from a mutual insurer not subject to taxation? - correct answer Dividends are...

Why are dividends from a mutual insurer not subject to taxation? Correct Answer: because dividends are considered to be a return of premium ABC insurance company transfers part of their risk to XYZ insurance company. This situation is called Correct Answer: reinsurance A nonparticipating company is sometimes called a(n) Correct Answer: stock insurer What is considered to be the primary reason for buying life insurance? Correct Answer: provide death benefits A(n) _____ company is owned ...