(Health) 1 - Health and Accident Insurance

The federal income tax treatment of employer-provided group health insurance can be accurately described as

Employee's coverage paid for by the employer is tax-deductible to the employer as a business expenditure

Which statement is TRUE regarding a group accident & health policy issued to an employer?

The employer is the policyowner and each employee receives a certificate of coverage

The reason for a business having a Business Overhead Expense Disability Plan is to cover

fixed business expenses

Which of these types of coverage is best described as a short term medical policy?

interim coverage

How does group insurance differ from individual insurance?

Premiums are lower

XYZ Company pays the entire premium for its group health plan. The MINIMUM percentage of eligible employees that must be covered is

100%

S is employed by a large corporation that provides group health coverage for its employees and their dependents. If S dies, the company must allow his surviving spouse and dependents to continue their group health coverage for a maximum of how many months under COBRA regulations?

36

When an employee is required to pay a portion of the premium for an employer/employee group health plan, the employee is covered under which of the following plans?

Contributory

Which of the following statements BEST describes how a policy that uses the "accidental bodily injury" definition of an accident differs from one that uses the "accidental means" definition?

Less restrictive

The Coordination of Benefits provision

prevents an insured covered by two health plans from making a profit on a covered loss