Unit 12

Question 1

What are the 2 perils that health insurance is designed to cover

Answer 1

Accident and Sickness

Question 2

Long term care insurance provides coverage for

Answer 2

Medical and Non medical care

Question 3

Disability Income insurance does what

Answer 3

Pays a stated amount should the insured become unable to work for an extended period

Question 4

Common exclusions of insurance

Answer 4

Intention self harm, war or an act of war, elective cosmetics, Workers’ comp, felony

Question 5

The Affordable care act did what

Answer 5

reforms the affordability, quality, and availability of health insurance

Question 6

These provisions of the ACA were implemented in what year
No lifetime $ limits
No cancellations except for fraud
Free preventative services
Dependent coverage
Pre existing conditions covered for children under 19

Answer 6

2010

Question 7

These provision of the ACA where implemented in what year
Pre existing conditions must be covered
Guaranteed issue of policies
No discrimination on gender or health
Creation of Navigators

Answer 7

2014

Question 8

Grandfathered policies are exempt from

Answer 8

Annual $ limits on essential benefits, elimination pre existing condition exclusions for children under 19

Question 9

The metals tiers of health insurance represent how much the plan will pay, what are the tiers are their coverage

Answer 9

Bronze: 60%
Silver: 70%
Gold: 80%
Platinum: 90%

Question 10

What are the special enrollment periods for individuals and families

Answer 10

Marriage, birth or adoption, moving with different options, Loss of coverage

Question 11

Small employers and Small tax exempt organizations can get tax credits to offset the cost of health premiums, what is the max for those companies

Answer 11

50% for small businesses and 35% for tax exempts for 2 years