Guaranteed Test Questions 1
What does every medicare supplement display on the first page?
"Notice to the Buyer: this plan may not cover all your medical expenses"
What is another term for a health insurance policy subscriber?
Participant
Regarding the PPACA health care tax credit, which of the following is true? a) tax credits are based upon a taxpayer's or family's expected annual medical expenses b) all wage earners who purchase a health care insurance are eligible for the tax credit c) tax credits are sent to the tax payer to reduce monthly insurance premiums d) Persons receiving Medicaid are not eligible
d) Persons receiving Medicaid are not eligible
In Mass, how often are licenses required to be renewed?
every 36 months
What medical expenses are received income tax free by the employee?
group medical and dental expenses
An Insurer can decide to not renew an Optionally renewable policy
on premium due dates
What does business overhead policies reimburse for?
the policy reimburses the insured for the covered expenses incurred or the maximum stated in the policy, whichever is less
What is the latest point at which the Outline of Coverage may be presented?
at the time of policy delivery
All of the following are features of a health insurance plan purchased on the health insurance marketplace EXCEPT: a) coverage for pre-exisitng conditions b) dollar limits on essential benefits c) guaranteed renewability d) coverage for emergency services
b) dollar limits on essential benefits
Which of the following is NOT a characteristic of a Managed Care Plan? a) comprehensive case management b) preventative care c) controlled access of providers d) risk retention
d) risk retention
All of the following statements about mutual insurance companies are correct EXCEPT: a) dividends allow policyholders to share in a mutual company's divisible surplus b) dividends are a return of unused premiums c) mutual companies issue policies referred to as participating d) Policy dividends issued by mutual companies are guaranteed and not taxable
d) Policy dividends issued by mutual companies are guaranteed and not taxable
The Commissioner will examine affairs for how many years?
5 years
If a person qualifies for social Security disability benefits after the 5 month elimination period, when will the benefits begin?
benefits begin at the beginning of the 6th month and are not retroactive to the beginning of the disability
All the following health insurance benefits are income tax free EXCEPT: a) key-person disability b) personally-owned individual disability insurance c) Employer-paid group disability d) employee-paid group disability
c) Employer-paid group disability
A core Medicare Supplement policy (Plan A) will cover all following expenses except: a) 20% of Part B coinsurance amounts for Medicare-approved services b) Part A coinsurance c) Part A deductible d) the first 3 pints of blood
c) Part A deductible
Which of the following is a requirement for replacement of health policies? a) replacements in health insurance are not allowed b) the old policy must be cancelled before the new policy can be issued c) the old policy must stay in force until the new policy is issued d) policies must overlap to cover pre-existing conditions
c) the old policy must stay in force until the new policy is issued
An employee goes on an extended leave of absence then returns to work, what coverage with he receive?
limited coverage
A licensed producer must inform the Commissioner of his change of address ____
within 30 days
Once the initial benefit limit in Medicare Part D is reached, how is the beneficiary affected?
the beneficiary is responsible for a portion of prescription drug costs
Who determines if a particular group of employees can be excluded from group insurance
the employer
an employee may enroll in an employers group health plan when they are eligible and evidence of insurability is required everywhere except
the annual open enrollment period
What is the purpose of a benefits schedule? a) to list the insured's copays and deductibles b) to state what and how much is covered in the plan c) to include the average charges for procedures d) to provide the dates for the payment of benefits
b) to state what and how much is covered in the plan
Under HIPAA portability, which of the following are NOT protected under required benefits?
Groups of one or more
Which of the following would not be provided by an HMO? a) Unlimited coverage for treatment drug rehab b) treatment for mental disorders c) Emergency care d) inpatient hospital care outside the service area
a) Unlimited coverage for treatment drug rehab
Which policy rider added to a disability income policy may require that a benefit be paid as a "capital" sum?
accidental death and dismemberment
The Commissioner may suspend or modify the filing requirements for
any kind of insurance or classes of risk for which the rates cannot be practically filed before that are used
If an agent is following the rules of the contract they are exercising
express authority
When may HIV-related test results be provided by the MIB
if the person is not identified