Which of the following is a characteristic of Medicare Supplement policies?

Preliminary Study Review
October 20, 2018
HCI 500 WEEK 4 HIT System Planning
October 20, 2018

Which of the following is a characteristic of Medicare Supplement policies?

FIN 428 Week 4 Quiz

The group that pays the largest share of health care costs in the United States is

  • private insurance companies.
  • private employers.

 

In attempting to deal with the problem of over-insurance, companies writing disability income insurance

  • may charge documentation higher fees than other providers in the area.
  • may include a non-cancellation provision.
  • may include a facility of payment clause.
  • may restrict the amount of coverage offered to individuals

 

Which of the following is a characteristic of Medicare Supplement policies?

  • Coverage for Medicare cost-sharing features will not automatically change with Medicare deductibles and coinsurance.
  • Policies cannot be guaranteed a renewal.
  • Policies may not impose a waiting period on preexisting conditions.
  • Policies cannot exclude preexisting conditions.

 

Although Social Security provides benefits in the event of a worker’s disability

  • coverage qualification requirements are demanding.
  • coverage is provided for disabilities that are short-term only.
  • coverage is subject to a one-week waiting period.
  • coverage decreases based on the number of work-related claims.

 

Which of the following types of pension plans are employers required to insure with the Pension Benefit Guarantee Corporation?

  • Defined benefit plans
  • Defined benefit and defined contribution plans
  • Single employer plans
  • Defined contribution plans

A business valued at $600,000 has four partners. If each partner buys $50,000 of life insurance on each of the other partners, this arrangement is known as

  • a shared interest plan.
  • an insurable interest plan.
  • an entity plan.
  • a cross-purchase plan.

 

The beneficiary under key person life insurance normally is the

  • the employer.
  • estate of the insured.
  • key person.
  • key person’s spouse.

 

The change of occupation provision used in individual health insurance contracts

  • is one of the mandatory uniform provisions.
  • forbids the changing of occupations.
  • provides for a return of premium if a new occupation is less hazardous and an adjustment of benefits if it is more hazardous.
  • forbids the changing of occupations.

 

When a deposit administration plan is used to fund a qualified retirement plan

  • a single premium annuity is purchased for each worker at retirement.
  • the insurer guarantees the adequacy of funds to meet accrued liabilities.
  • the insurer guarantees the benefits to retired workers for whom annuities have been purchased.
  • contributions are not allocated to specific workers until they retire.

 

Medicare Advantage

  • is intended to increase Medicare costs and coverage.
  • is an attempt reduce Medicaid market competition.
  • brought uniformity to Medicare prescription drug coverage plans and coverage.
  • has been referred to as the “privatization of Medicare”.

 

A preferred provider organization

  • is a group of health care providers designated by an employer or insurer.
  • usually charges higher fees than other providers in the area.
  • is a health insurer selected by a group of physicians.
  • is an insurer approved by the state commissioner of insurance.

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