Contributory plan - Study guides, Class notes & Summaries

Which of the following statements correctly describes minimum requirements that group benefit plans typically must meet in order to be prospectively rated on contract renewal? - The more unpredictable the event that will trigger a claim, the larger the minimum group size and premium requirements Which of the following statements correctly describes the term graduation as it applies to mortality tables? - It is a mathematical process that removes anomalies that should not appear in the mort...

Any of the following transactions will be subject to federal income tax consequences in a modified endowment contract (MEC), EXCEPT: Select one: a. Policy loans b. Policy withdrawals c. Partial withdrawals d. Death proceeds - ANSWER Death proceeds Death benefits are the only payment not affected by the federal law regarding modified endowment contracts. What are the rules for genetic testing and health insurance? Select one: a. Genetic testing can never be used for any reason. b. G...

Xcel Final Exam Questions and Answers Already Passed Typically, Long-Term Disability benefits are coordinated with which benefit plan? Social Security The focus of major medical insurance is providing coverage for medical and hospitalization expenses An insured under a Major Medical expense plan with a zero deductible and 80/20 coinsurance provision files a $1,000 claim. How much of this claim is the insured responsible for? $200 because this policy has a zero deductible, the i...

Q 20.1: Which of the following explains the difference between a contributory pension plan and a noncontributory pension plan? A : In contributory plans, employees bear part of the cost of stated benefits or voluntarily make payments to the plan, whereas the costs of noncontributory plans are borne by the employER. B : In a contributory plan contributions are made, but in a noncontributory plan no contributions are made. C : In contributory plans, employers bear part of the cost of ...

Certified Paraoptometric Coder Exam Questions and Answers Latest Guide 2024 (Already Scored 100%) Is it acceptable for a staff person to correct a CPT or ICD-10 code on a route slip or claim without the consent of the doctor? Medical Decision Making, Examination, and History - Answer What are the Key Components of E and M Coding? 51 - Answer What modifier is used if two non bundled surgical procedures are performed on the same eye at the same visit? 24 - Answer What modifier should you use...

NEVADA HEALTH AND LIFE EXAM 2024/2025 WITH 100% ACCURATE SOLUTIONS With a contributory Group life Plan, what percentage of employees must particpate? - Precise Answer At least 75% Basic Health Insurance Plans do not have a deductible, so they are know as providing: - Precise Answer "First Dollar" coverage Which of the following is true regarding Vision insurance? - Precise Answer It typically does not cover the cost to replace frames or lenses that are lost or broken. What is the...

Xcel Final Exam Questions and Answers 100% Pass Typically, Long-Term Disability benefits are coordinated with which benefit plan? Social Security The focus of major medical insurance is providing coverage for medical and hospitalization expenses An insured under a Major Medical expense plan with a zero deductible and 80/20 coinsurance provision files a $1,000 claim. How much of this claim is the insured responsible for? $200 because this policy has a zero deductible, the insure...

A non-contributory plan requires _________ participation of all eligible employees - CORRECT ANSWER- 100% A characteristic of preferred provider organizations (PPOS) would be: - CORRECT ANSWER- Discounted fees for the patient Which of the following areas of state regulation is NOT protected by the saving clause in ERISA? - CORRECT ANSWER- Commerce Additional coverage can be added to a whole Life policy by adding a(n): - CORRECT ANSWER- decreasing term rider What benefit does the payor cl...

PA LIFE, HEALTH AND ACCIDENT FINAL EXAM 2024 WITH 100% ACCURATE SOLUTIONS Which of these factors is NOT taken into consideration when determining the cost of a long-term care policy? - ANSWER ☑☑Personal Income What is the nonforfeiture value of an annuity before annuitization? - ANSWER ☑☑All premiums paid, plus interest, minus any withdrawals and surrender charges In an employer sponsored contributory group disability income plan the employer pays 60% of the premium and each...

Which of these factors is NOT taken into consideration when determining the cost of a long-term care policy? - ANSWER ☑☑Personal Income What is the nonforfeiture value of an annuity before annuitization? - ANSWER ☑☑All premiums paid, plus interest, minus any withdrawals and surrender charges In an employer sponsored contributory group disability income plan the employer pays 60% of the premium and each employee pays 40% of the premium. Any income benefits paid are taxed to the em...