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...

Reserves - ANSWER Funds held by the company to fullfull future claims. Funds are set by the state department of insurance. Multi-line Insurer - ANSWER An insurance company selling more than one line of insurance. (Ex. Home, auto, health, etc) Stock Companies - ANSWER Owned and controlled by stockholders, whose investment set the safety margin. Guaranteed fixed premiums. Nonparticipating policies. nonparticipating policy - ANSWER Insurance under which the insured is not entitled to share...

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 ...

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. ...

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...

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 ...

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 ...

AAPC CPB Practice Exam 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...

WFG EXAM QUESTIONS AND ANSWERS 100% PASS Which of the following is true in regard to health insurance issued on a group basis? a. All eligible members must be covered under a "non-contributory" group health plan b. All eligible members must be covered under a "contributory" group health plan c. No less than 50% of the eligible employees must elect to participate in the plan if it is considered a "contributory" plan d. No less than 75% of the eligible employees must elect to participa...