Fsa contribution limit - Study guides, Class notes & Summaries

AAPC CPB - CHAPTER 2: QUESTIONS WITH ANSWERS 2023 Why must a provider obtain an NPI number? I. To submit claims II. To prove that he is licensed III. To be HIPAA compliant IV. To guarantee payment by a health plan a. I, II, III b. II, III, IV c. I, II, III, IV d. I, III d. I, III A patient has receipts for her dental cleaning, vision exam, and contact lenses. Her employer has set up special accounts for each employee, there is no limit to the amount the employer can contribute...

SHRM-CP PRACTICE EXAM 231 Questions with Verified Answers 1) A specialized field which works on engineering the work environment is: A. industrial existentialism. B. ergonomics. C. environmentalism. D. engineering design - CORRECT ANSWER B. ergonomics. 2) A primary advantage of unstructured versus structured interviewing techniques is that: A. structured interviews take less time B. in an unstructured interview, the interviewer can ask follow-up questions and pursue points of interest as t...

Why must a provider obtain an NPI number? I. To submit claims II. To prove that he is licensed III. To be HIPAA compliant IV. To guarantee payment by a health plan a. I, II, III b. II, III, IV c. I, II, III, IV d. I, III - ANSWERSd. I, III A patient has receipts for her dental cleaning, vision exam, and contact lenses. Her employer has set up special accounts for each employee, there is no limit to the amount the employer can contribute and the balances roll over from year to year. ...

Webce Life and Health Comprehensive Review Questions and Answers Representations and Warranties - Correct answer Representations are statements the applicant makes on an application that are deemed to be true to the applicant's best knowledge. Warranties are statements the insurer makes in the contract." "Underwriting vs. Actuarial Departments - Correct answer Two related insurance company functions. Through the process of _________, applications are assessed for insurability and to ass...

ACCIDENT AND HEALTH INSURANCE EXAM QUESTIONS/231 QUESTIONS AND ANSWERSH has suffered a covered disability away from her job and will shortly begin collecting benefits. The insurer sends a letter to H stating that she will not receive any benefit amounts greater than her income. This clause is known as: A: Over-insurance clause B: free look C: relation of earning to insurance D: relation of economic value - -C: relation of earning to insurance -The insured should be aware of the issue ...

webce Exam questions and Answers which of the following situations presents a situation of pure risk? -knowing that his family is depending on him, Frank wants to insure his life -wanting to increase his retirement savings, Saul invests his life savings in the stock market -Ralph takes a second mortgage on his house and uses the proceeds to gamble -wanting better job security, Ron cashes in his life insurance to start his own business - Correct answer knowing that his family is dependin...

ACCIDENT AND HEALTH INSURANCE EXAM QUESTIONS/231 QUESTIONS AND ANSWERSH has suffered a covered disability away from her job and will shortly begin collecting benefits. The insurer sends a letter to H stating that she will not receive any benefit amounts greater than her income. This clause is known as: A: Over-insurance clause B: free look C: relation of earning to insurance D: relation of economic value - -C: relation of earning to insurance -The insured should be aware of the issue ...

webce test questions with correct answers which of the following situations presents a situation of pure risk? -knowing that his family is depending on him, Frank wants to insure his life -wanting to increase his retirement savings, Saul invests his life savings in the stock market -Ralph takes a second mortgage on his house and uses the proceeds to gamble -wanting better job security, Ron cashes in his life insurance to start his own business . Agent Jill received a letter from the D...

Health Savings Account 47 Questions with Verified Answer Types of Health Care Savings Program - CORRECT ANSWER 1. Flexible spending account 2. Health reimbursement arrangements 3. Archer medical savings account FSA - CORRECT ANSWER - frequently offered with Section 125 plans - 2 types: Health Care Account & Dependent Care Account Advantages of FSA - CORRECT ANSWER - simplicity - tax benefits that are connected with contributions (which are made on pre-tax basis) - no reporting ...

LO 3: Briefly describe the differences between FSA, HRA and HSA tax advantaged accounts Flexible Spending Accounts (FSA), also known as "cafeteria plans" or "125 plans" - CORRECT ANSWER - employer-established benefit plans that pay or reimburse participating employees for Qualified Medical Expenses (QMEs) - A plan funded by the EMPLOYEE- through pre-tax reduction (the employer may also contribute) -Subject to "Use it or Lose it" -Funds can be used to pay for un-reimbursed medical e...