Health, Di, LtC, Veretans Flashcards
If terminated for gross misconduct, what happens with COBRA?
Neither the person or children are eligible for COBRA
Outpatient hospital services are covered under part B
How long COBRA coverage can continue
Covered employee: voluntary or involuntary termination 18 months, change from full to part-time 18 months, disability 29 months
Spouse or other dependents: death, divorce, separation, Medicare eligibility 36 months,
Children of ees: loss of dependant status 36 months
Who must provide Cobra
Have 20 full time equivalent employees or more (a part time is half)
Features of managed care plans include: copayments, PCPs and gatekeepers.
All standard medical plans must include at least part A hospice care coinsurance or copayment. Medical policies may NOT duplicate benefits provided by Medicare.
How does the affordable care act limit the definition of pre-existing conditions?
Limitations can bo longer be applied to pre-existing conditions.
Hospice care is covered under Medicare part A
Enrollment in medicare part b is voluntary on an opt-out basis
Medicare part d
Offered through private medicate-approved insurance companies, not directly through Medicare itself. Part D does NOT have income or asset limitations though a premium surcharge may apply depending on person’s income
BOE taxes
Policy premiums are deductible business expenses to the company, the benefits payable are taxable income to the business.
Under COBRA someone who quits for how long covered?
18 months
Individuals eligible for medicare coverage
- A person who keeps working past 65.
- End stage renal failure
Individuals getting social security benefits are eligible for Medicare after 24 months of receiving Dldisabiloty payments
Under HIPPAA, Medigap policies must accept all applicants within how many months?
Six
DI policy that is guaranteed renewable
The right to renew is guaranteed. The insurers may only increase the premium for an entire class of policyholders.
Difference between DI noncancelable and DI guaranteed renewable
Premiums on guaranteed renewable policies, while initially lower, may increase with each renewable. While initially more expensive, the noncancelable policy premiums never increase.
