Beth’s disability income insurance policy provides benefits for accidental death, dismemberment, and loss of sight. The maximum amount payable under this benefit is known as the A) face value. B) cash value. C) principal sum. D) monthly benefit. ANSWER Answer: C
Date: September 19th, 2020
Some managed care plans use physicians, hospitals, and health care organizations that agree to make medical services available to insureds at discounted fees. Insureds are not required to use these entities, but if they do, health care costs are less than if these entities are not used. Such health care entities are called A) Preferred […]
Date: September 19th, 2020
The Affordable Care Act has provisions that improve the quality of health care and lower costs. All of the following are examples of these provisions EXCEPT A) reducing paperwork and administrative expenses. B) increasing the number of medical specialists and reducing the number of primary care physicians. C) compensating physicians based on value rather than […]
Date: September 19th, 2020
Which statement is true regarding the advanced premium tax credits for individuals and families under the Affordable Care Act? A) The tax credit is the same flat amount for individuals and families. B) The tax credit is based on income and is designed to limit the amount spent on health insurance premiums to make the […]
Date: September 19th, 2020
The Affordable Care Act has a provision that expands a public assistance program designed to make health coverage available to low-income individuals by increasing the maximum amount of income that can be earned and still qualify for benefits. As a result, millions of individuals are eligible for coverage under this program. This public assistance program […]
Date: September 19th, 2020
Which of the following statements about health savings accounts (HSAs) is true? A) There are no limits to annual contributions that an individual may make to his or her HSA. B) Once an individual has reached age 65 or is covered by Medicare, no additional contributions to the HSA may be made. C) The health […]
Date: September 19th, 2020
Prior to passage of the Affordable Care Act, insurers could go back to the date a health insurance policy became effective and render the policy void due to a clerical error. This practice, which is prohibited under the Affordable Care Act except in cases of fraud or intentional misrepresentation of a material fact, is called […]
Date: September 19th, 2020
The inability of the insured to perform some but not all of the important duties of his or her occupation is called A) residual disability. B) total disability. C) recurrent disability. D) partial disability. ANSWER Answer: D
Date: September 19th, 2020
The effect of an annual out-of-pocket limit in an individual medical expense policy is to A) limit the lifetime benefits payable under the policy. B) put a cap on annual benefits the insurer will pay. C) prevent the insured from receiving duplicate benefits if medical expenses are also covered under workers compensation insurance. D) cover […]
Date: September 19th, 2020
Greta purchased a long-term care policy. Under a typical policy, Greta’s eligibility for benefits may be triggered by A) how long premiums have been paid. B) inability to perform activities of daily living. C) continuous hospitalization for at least 60 days. D) eligibility for Medicare benefits. ANSWER Answer: B
Date: September 19th, 2020
