Finance Chapter 12
reduced litigation costs.
The cost of health care has risen dramatically in recent years due to all of the following, except people living longer and requiring attention for longer periods of time. the high cost of technology in health care. the bureaucratic processes of reimbursement and claim handling. reduced litigation costs.
flexible spending account.
An account that allows employees to use pre-tax income to pay for medical expenses is a flexible spending account. PPO. HMO. medical savings account.
$560
How much of a $2,000 medical bill would you pay if your policy contains a $400 deductible and a 10% coinsurance clause? $160 $200 $400 $560
medicare tax.
In addition to social security tax withholding, wage earners also pay a 1.45% withholding tax on all gross salary and wages for medicare tax. supplemental social security tax. the supplemental college loan fund. medicaid tax.
it varies from one disability policy to another.
Regarding the definition of disability, the same definition is used by the insurance industry and Social Security. it is the same for all disability policies. it varies from one disability policy to another. the meaning can change over the life of your disability policy.
federal disability insurance.
Sources of disability income do not include insurance from Social Security. employer disability insurance. individual disability insurance. federal disability insurance.
COBRA.
The federal law that allows you to continue health insurance coverage through your former employer's plan for 18 months after you stop work is HIPAA. Social Security. COBRA. Medicare.
less than what it would normally charge for a particular service.
Under a discount on charge arrangement, the provider receives more than what it would normally charge for a particular service. an amount equal to the charge for the service. less than what it would normally charge for a particular service. a flat fee.
When changing jobs, you are allowed to stop and start health care plans whenever you need to and still be guaranteed insurance coverage by a new provider.
Which of the following is not true regarding government regulations to allow individuals who change jobs to maintain health insurance coverage? Even if you retire, you may continue coverage for 18 months unless you qualify for Medicare. If you change jobs, a new insurance company cannot deny you coverage based on your health, medical condition, previous claims, or disability. You may continue your health insurance provided through an employer's plan for 18 months after you stop working for that employer. When changing jobs, you are allowed to stop and start health care plans whenever you need to and still be guaranteed insurance coverage by a new provider.
Auto insurance
Which of the following is usually not offered as part of a benefits package to employees? Auto insurance Retirement benefits Disability insurance Health insurance
