Other Health Insurance Concepts Flashcards
To what age can a child be covered under their parents insurance?
26
if a child cannot become independent, how quickly and then how regularly must they show proof of insurability so that they may keep being dependent?
31 days, and annually after 2 years
found only in group health plans, is to avoid duplication of benefit payments and overinsurance when an individual is covered under multiple goup health insurance plans
coordination of benefits
a type of disability income that provides benefits for loss of income when a person returns to work after a total disability, but is unable to do everything that they used to
residual disability
the legal process by which an insurance company seeks recovery of the amount paid to the insured from a third party who may have caused the loss
subrogation
how long do short term disability group plans last?
less than 2 years
how long do long term disability plans last?
longer than 2 years
has mandated increased preventive, educational, and community based health care services
Affordable care act
what is true about occupational and nonoccupational coverage?
disability insurance can be written as either
the patient protection and affordable care act does NOT include
individual tax deductions for premiums paid
workers compensation benefits are regulated by what entity?
state government
an employee insured under a group health policy is injured in a car wreck while performing her duties for her employer. This results in a long hospitalization period. What is true?
the group plan will not pay because the employee was hurt at work
A brain surgeon has an accident and develops tremors in her right arm. Which disability income policy definition of total disability will cover her for all losses?
own occupation - less restrictive than other definitions
Which of the following are the main factors taken into account when calculating residual disability benefits?
present earnings and earnings prior to disability
what is true about taxes regarding Business Overhead Expense Insurance?
Premiums are tax deductible
