Dri 15

If an insured employee selects COBRA coverage after the employment is terminated, how much premium will the insured have to pay?

100% of the premium paid by the employer and 2% processing fees

Which of the following must the patient pay under Medicare Part B?

20% of covered charges above the deductible

All of the following are correct about the required provisions of a health insurance policy EXCEPT

A reinstated policy provides immediate coverage for an illness.

In which Medicare supplemental policies are the core benefits found?

All plans

In a casualty policy, which of the following policy provisions states that the interest in a policy may be transferred?

Assignment

Which of the following is true regarding inpatient hospital care for HMO members?

Care can be provided outside of the service area.

Which policy provision found on the first page of the policy makes clear that both parties to the contract must contribute something of value for the contract to be effective?

Consideration

The gatekeeper of an HMO helps

Control specialist costs

Which of the following individuals related to an insured will be eligible for coverage under the insured's group health insurance policy?

Disabled dependents

Which of the following provisions states what must be included for an insurance contract to be considered complete?

Entire contract

Another term used to describe "no deductible" is

First-dollar basis.

An insured is involved in an accident that renders him permanently deaf, although he does not sustain any other major injuries. The insured is still able to perform his current job. To what extent will he receive Presumptive Disability benefits?

Full benefits

A term policy would be preferable to a whole life policy when the individual wants the policy to

Have the largest death benefit for the smallest premium.

Which of the following statements pertaining to Medicare Part A is correct?

Individuals who have ALS automatically qualify for Medicare Part A, regardless of age.

A life insurance policy has a legal purpose if both of which of the following elements exist?

Insurable interest and consent

Which of the following describes taxation of individual disability income insurance premiums and benefits?

Premiums are not tax deductible, and benefits are not taxable.

Which of the following is NOT a qualifying event for COBRA?

Termination of employment for gross misconduct

An insured purchased a noncancellable health insurance policy 1 year ago. Which of the following circumstances would NOT be a reason for the insurance company to cancel the policy?

The insured is in an accident and incurs a large claim.