Self insured plans - Study guides, Class notes & Summaries

Which of the following types of health insurance covers the cost of providing non-medical custodial care to individuals with cognitive problems? A. Disability income insurance B. Long-term care insurance C. Hospital expense coverage D. Medical Expense coverage B All of the following are characteristics of a group health insurance plan EXCEPT: A. Only group members may be covered. B. There is one master contract B. Each person has a policy D. Benefits are essentially the same for al...

Which of the following types of health insurance covers the cost of providing non-medical custodial care to individuals with cognitive problems? A. Disability income insurance B. Long-term care insurance C. Hospital expense coverage D. Medical Expense coverage B All of the following are characteristics of a group health insurance plan EXCEPT: A. Only group members may be covered. B. There is one master contract B. Each person has a policy D. Benefits are essentially the same for al...

Under a traditional IRA, interest is taxed: Only if withdrawn prior to age 59 1/2 According to the capital gains rate Upon distribution During the accumulation phase - ANSWER-Upon distribution Which of these statements concerning Traditional IRAs is CORRECT? Earnings are not taxable when withdrawn Earnings are taxable when withdrawn Contribution are never tax deductible Contributions are always made by the employer - ANSWER-Earnings are taxable when withdrawn Wh...

3 basic types of funding arrangements of an MBHO - ANSWER1. fully insured -MBHOs assume the financial risk for providing behavioral services paying the claims submitted by providers for behavioral services rendered. Financial risk falls on the MBHO. When overall plan costs exceed expected levels, the MBHO absorbs those increased costs. Purchasers pay MBHOs a predetermined, fixed premium for assuming financial risk for behavioral treatment costs. On average, a monthly premium for a fully ins...

An annuitant dies during the distribution period. What kind of annuity will return to a beneficiary the difference between the annuity value and the income payments already made? - ️️Refund annuity Craig submits a $500 claim for medical expenses. With a past due premium of $100, the insurer pays $400. Which of the Uniform Optional Provisions covers this situation? - ️️Unpaid premium All _____ policies must be guaranteed renewable. - ️️long-term care An attending physician's...

CEBS - GBA 1 - Practice Exam Questions and Answers 100% Pass Which of the following statements correctly describes minimum requirements that group benefit plans typically must meet in order to be prospectively rated on contract renewal? The more unpredictable the event that will trigger a claim, the larger the minimum group size and premium requirements Which of the following statements correctly describes the term graduation as it applies to mortality tables? It is a mathematical process that...

Kentucky Health Insurance License (Mostly Complete) Questions and Answers 100% Solved Sean has renewed his health insurance policy with Ability Insurance every year for the past 3 years. At this renewal, Sean received an extra payment from his insurer as a reward for renewing his policy and to encourage him to renew his policy again next year. What is this extra amount called? 1. An endorsement 2. An accumulation 3. A supplemental benefit 4. An additional benefit An accumulation When an indivi...

AHIP - FINAL EXAM | 141 QUESTIONS & 100% CORRECT ANSWERS (VERIFIED) | LATEST UPDATE | GRADED A+ | ALREADY GRADED Insurer vs Insured ANSWER: - insurer is a company that provides plan - insured are the people that buy into the plan Group health insurance ANSWER: Health coverage provided by employers to members of a group. Group health insurance - types of coverage ANSWER: You can choose among several or just one depending on your employer * dental, vision, medical benefits, mana...

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...

Which of the following statements correctly describes minimum requirements that group benefit plans typically must meet in order to be prospectively rated on contract renewal? - ANSWERThe more unpredictable the event that will trigger a claim, the larger the minimum group size and premium requirements Which of the following statements correctly describes the term graduation as it applies to mortality tables? - ANSWERIt is a mathematical process that removes anomalies that should not appear in t...