health and life insurance Flashcards
which of the following insurers are owned by stockholders?
stock
which of the following is another term for authorized insurer?
Admitted
An employee becomes insured under a PPO plan provided by his employer, If the insured decides to go to a physician who is not a ppo provider , which of the following will happen?
The PPO will reduce benefits
A business entity must meet all of the following qualifications EXCEPT?
Have a board of directors
An insurance company requires that both the insured and the insurer meet certain conditions inorder for the contract to be enforceable. what contract characteristic does the describe?
conditional
which of the following is not true of a disability buy sell coverage
benenfits are considered taxable income to the buisness
if during an underwriting process an insurer obtains personal information about an applicant from an application , when will the insurer provide notice of information practices?
At the time of policy delivery
An insured has health insurance that covers them at work and at home. This policy is written on what basis?
Occupational coverage
Which of the following is Not a characteristic of HMOs as defined by state of Maryland
In network physicians must be either employees or partners of HMO
Which of the following organizations are practicing providers compensated on a fee for fee service basis?
PPO
Assuming that all of the following people are covered by a high deductible health plan and are not claimed as dependents on anyone’s Tax return , which would not be eligible for a health savings account?
Amanda 67 and is coovered by a medical expense policy
Which type of service nonscheduled plan typically has large deductibles and pays around 50% for the services provided?
Major services
when the policy premiums wasn’t submitted with the application, What should the agent obtain from the insured upon premium delivery?
A statement of good health
An insured severely burns her hand, but is not considered disabled.which of the following types of coverage would at least cover a portion?
Medicean reimbursement benefits
Under what condition would an employees group Medical benefits be exempt from income taxes
Employees group medical benefits are generally exempt from taxation as income
What is the purpose of COBRA?
To provide continuation of coverage for terminated employees.
What size companies are eligible for health reimbursement account?
Companies of all sizes
Which of the following do standard and preferred risk category shared? 
Premiums are not elevated 
Employers can reduce a health plan, caused by coupling a health reimbursement account with? 
A high deductible health plan 
When is the Medicare supplement buyers guide be presented? 
At the time of application 
In the employer choice option in the shop marketplace what does the employer select? 
A single insuring 
All of the following statements about Medicare supplement insurance policies are correct, except?
They cover the cost of the extended nursing home care 
Which is not true regarding an insured who is considered to be a standard risk
The insured might have to pay slightly higher premiums 
 Units with the same exposure to-loss are referred to as?
Homogeneous 
 A 37-year-old owns a policy with a guaranteed insurability rider. The policy owner would like to increase the benefit amount offered by the policy. What will be required?
No documentation 
How soon following the occurrence of a covered large Mesa insured submit written proof of such loss to the company 
Within 90 days as soon as recently possible, but not to exceed one year 
which type of dental treatment involves a replacement of natural teeth with artificial devices? 
Prosthodontics
Which of the following would disqualify her individual from receiving coverage to the market please? 
Being insured under employer plan, that means minimum value of healthcare cost 
Whom I signed a notice regarding replacement? 
 both the application and the agent 
