Medical expense insurance - Study guides, Class notes & Summaries

Medical Expense Insurance PASSED Exam Questions and CORRECT Answers In Major Medical Expense policies, what is the intent of a Stop Loss provision? -Limits an insurer's premium increases -Limits an insurer's liability -Limits an insured's out-of-pocket medical expenses -Limits an insured's coverage for pre-existing conditions - Correct Answer- limits an insured's out-of-pocket medical expenses

Medical Expense Insurance Exam Questions and Answers Which of the following characteristics does not apply to prepaid dental plans? - ANSWER Medical providers are paid on a capitation basis. The correct answer is: Medical providers are paid on a fee-for-service basis. Which of the following is typically not covered by a dental plan? - ANSWER Replacement of dentures is typically not covered by dental plans. The correct answer is: Replacement of dentures Which of the following are routin...

Medical Expense Insurance Practice Exam Questions and Answers What is the period of coverage for events such as death or divorce under COBRA? - ANSWER 36 months Who determines the eligibility and contribution limits of an HRA? - ANSWER The employer Health Reimbursement Accounts (HRAs) - ANSWER Plans that allow employers to set aside funds for reimbursing employees for qualified medical expenses. Are open to employees of companies of all sizes; however, the employer determines eligibi...

Can a group that is formed the sole purpose of obtaining group insurance qualify for group coverage? correct answer: No, the group must be formed for a purpose other than obtaining group insurance As it pertains to group health insurance, COBRA stipulates that correct answer: Group coverage must be extended for terminated employees up to a certain period of time at the former employee's expense After a person's employment is terminated, it is possible to obtain individual health insura...

Medical Expense Insurance basic types - 1. hospital 2. surgical 3. medical -these types are often called *first-dollar coverage* b/c insured pays no deductible usually Basic Hospital Expense Coverage - Covers: -*hospital room and board*: (specific $ amt. per day up to max # of days) -*misc. hospital expenses* (lab and xray charges, etc): limit is either expressed as a multiple on the r&b or a flat amt. -*meds*: may have a limit -*use of OR and supplies*: may have a limit -no deductible...

Medical expense insurance Practice Test Questions and Answers Medical expense insurance provides - ANSWER Financial protection against the cost of medical care for accidents and illness Basic medical expense insurance is sometimes called - ANSWER First dollar insurance Unlike major medical expense insurance basic medical expense insurance provides - ANSWER upfront without having to satisfy a deductible Benefits provided by basic medical expense insurance are - ANSWER Lower than actua...

Life, Accident and Health Final Exam Questions With 100% Correct Answers Which of the following provides benefits for the treatment of gum disease? A. Endodontics B. Orthodontics C. Periodontics D. Prosthodontics - answerC. Periodontics The Insured and primary beneficiary die in a common accident. The insured dies at the scene and the beneficiary dies thirty six days later. To whom is the $250k death benefit paid? A. The State Department of Revenue B. The Contingent Beneficiary C. The...

Casualty Insurance Exam Coverage that is triggered when a claim is first made against the insured, regardless of when the injury took place, is known as - correct answer Coverage under the claims-made form According to the other insurance condition, which of the following are methods used to decide how the claim will be divided? - correct answer Contribution by equal shares or contribution with limits Which of the following limits of liability in a commercial general liability policy is t...

Xcel 2-15 Florida Life & Health State Exam Simulator Already Passed what is considered to be a characteristic of an immediate annuity benefit payments start within one payment period of purchase 3 MULTIPLE CHOICE OPTIONS which of these characteristics is consistent with a straight life policy premiums are payable for as long as there is insurance coverage in force 3 MULTIPLE CHOICE OPTIONS an insureds inability to perform two or more activities of daily living may trigger which type of life...

ADJUSTER PRO EXAM WITH REVISED ANSWERS (2023) Stu has a collection of rare comic books. He wants to purchase theft insurance for his collection, separate from his home and other property. What term most accurately describes the type of policy Stu would purchase? - CORRECT ANSWER-Monoline Policy Which of the following statements does NOT apply to the Standard Fire Policy? - CORRECT ANSWER-It automatically covers wind and vandalism. Which of the following refers to being restored to the ...