Health and Accident Insurance

Under which circumstance can an insurance company offer group Health insurance?

The sponsoring group provides an employer-employee relationship

Accident and health policies exclude loss as result of

War

Notice of information practices must be given to a policyholder at least

every three years

Which of the following does NOT help determine group health insurance premiums?

Income level of group members

Kate received a group accident and health termination notice. How many days does she have to apply for a converted policy?

31 days

According to the Pregnancy Discrimination Act of 1978, employers must treat pregnancy in the same manner as

Any other medical disability

In regards to health insurance, employees age 65 or older are typically required to

Be offered the same group health benefits offered to the younger employees

An accident and health insurance policy defines an injury as "bodily injury by accidental means". For an injury to be covered on this policy, what is required?

Both the cause and resultant injury must be accidental

A disabled business owner who has payroll and business expenses paid for has what kind of insurance policy?

Business Overhead Expense

Jill has a group health plan with an employer that covers employees in more than one state. Which of the following is NOT affected by the state regulatory jurisdiction established for this plan?

Continuation of coverage under COBRA

How are benefit payments from individually-owned medical expense policies treated for tax purposes?

Exempt from income taxes

Which of the following statements BEST describes the HIPAA portability rules for an individual who changes from one group medical plan to another?

Reduces or eliminates any pre-existing conditions excluded under the new plan

Which type of policy pays benefits to a policyholder covered under a Hospital Expense policy?

Reimbursement- When benefits are paid to a policyowner covered under a Hospital Expense policy, the policy is known as reimbursement.

Steve has a group disability income policy where the premiums are paid by his employer. He elected to pay for additional residual disability coverage. Which of the following statements is true?

Steve will pay taxes on the disability benefit received from his employer, but will receive any residual disability benefits tax-free

When disability buy-sell insurance benefits exceed a partner's cost basis, which of the following is correct?

The full amount is non-taxable to the partner

Accident and health insurance claim handling is made more convenient to the insured by utilizing

assignment of benefits

What is the name of the period of time during which a new employee is ineligible for group Health insurance coverage?

probationary period

The main role of accident and health and disability insurance is to

protect against medical care costs and the loss of earning power

Trade association groups that are eligible for group medical benefits normally are

same industry

Typically, states will permit the grouping of two or more small employers in the same industry for obtaining group health insurance at a favorable rate. This grouping of employers is known as a multiple employer

to trust