Insurance Chapter 4 Flashcards
1
Q
When figuring out coinsurance amount for a family, what do you have to do?
A
Multiply the number of family members by the coinsurance amount
2
Q
Are premiums due retroactively to the termination date for COBRA if you don’t elect for 60 days?
A
Yes
3
Q
HSA contributions by an EE are above-the-line deduction.
A
True
4
Q
How is money that is withdrawn from an HSA by someone 65+ treated?
A
Health-care: tax-free
Other than health-care: ordinary income
under 65, there is a 20% penalty
5
Q
Are HSA distributions for Medigap premiums income-tex free?
A
Yes
6
Q
HSA tax-free distribution for qualified LTC insurance.
A
True
7
Q
Disability only replaces unearned income.
A
False; disability only replaces earned income.
8
Q
A
