Self funded benefit plan - Study guides, Class notes & Summaries

CEBS GBA Exam 3 Questions & Answers 2023/2024 An employee welfare benefit plan has four basis elements. What are these elements? (Mod 1.1) - ANSWER-1) There must be a plan, fund or program. 2) The plan, fund or program is established or maintained by an employer. 3) The plan, fund or program is for the purpose of providing specifically listed benefits, through the purchase of insurance or otherwise. 4) Benefits are provided to participants and beneficiaries. Explain how a "plan, fund...

Xcel Solutions Pennsylvania Insurance Test Questions and Answers Already Passed A nonparticipating company is sometimes called a Stock Insurer The Do Not Call Registry offers exemptions for calls placed from all the following EXCEPT Insurance Sales Calls 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? $5,000 A plan in which an employer pays insura...

RMI 2101 Topic 6 Latest Version Graded A+ Risk Financing deals with sources of funds to pay for external or internal funds Risk transfers of the financing type seek external sources from third parties to finance loss, still have asset or activity exposed to loss transfer financial responsibility for the loss, not the asset or activity itself ex: insurance insurance transfer of the financial responsibility of the loss to the insurer - but not the asset or activity itself Leases ...

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...

Ohio life and Health Insurance Practice Final Exam Questions with accurate answers. Graded A. 2022/2023. Rated A Document Content and Description Below Ohio life and Health Insurance Practice Final Exam Questions with accurate answers. Graded A. 2022/2023. Rated A Premiums paid that exceed 7 1/2% of an insured's Adjusted Gross Income (AGI) are tax-deductible when paid for which of the following plans? - Qualified Long-Term Care plan All _____ policies must be guaranteed renewable. - long-term...

Life Insurance and Health Insurance Exam Answers All 100% Correct Section 529 Plans - Answer - - state provided - can be funded by after tax dollars - can pay prepaid tuition - All earnings exempt from federal taxes - If withdrawn for unqualified withdrawl, 10% penalty Roth IRA - Answer - private retirement plan that taxes income before it is saved, but which does not tax interest on that income when funds are used upon retirement Distributions don't have to start before 70.5 40...

1 OHIO LIFE AND HEALTH INSURANCE PRACTICE FINAL REVIEW QUESTIONS AND ANSWERS, VERIFIED/ Premiums paid that exceed 7 1/2% of an insured's Adjusted Gross Income (AGI) are tax-deductible when paid for which of the following plans? - -Qualified Long-Term Care plan All _____ policies must be guaranteed renewable. - -long-term care An attending physician's statement would be appropriate for which life insurance purpose? - -At the request of the insurer to assist in the underwriting decision ...

5/3/19 ATI FUNDAMENTALS EXAM 1. CHAPTER 1: HEALTH CARE DELIVERY SYSTEMS A. Components of Health care systems a. Participants 1. Consumers- clients 2. Providers a. Licensed providers: registered nurses, license practical (or vocational) nurses (LPN), advanced practice nurses (APN), medical doctors, pharmacists, dentists, dietitians, physical/respiratory/occupational therapists, etc b. Unlicensed providers: assistive personal b. Settings 1. Hospitals, homes, skilled nursing, assisted living, schoo...

NJ Health Insurance Exam (XCEL Solutions) Questions and Answers Graded A+ 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 r...

What is a benefit to employers when offering medical benefits to their employees? Federal income tax advantages Which of the following apply to group health plans? Group health plans (GHP) Brainpower Read More Previous Play Next Rewind 10 seconds Move forward 10 seconds Unmute 0:02 / 0:15 Full screen Riders are also called _____. options An employer may do which of the following during negotiations to change benefits to a group policy? Omit a specific benef...