STUDY

an embedded deductible

NOT a primary way deductibles for major medical plans can be paid.

integrated dental plan

dental plan which is incorporated into a major medical expense plan

Multiple-employer trusts

formed when several similar or related small companies join forces to create a large pool of people that the insurer will accept as a group

12 months

how many consecutive months must LTC insurance provide in this state?

2 years

how often must continuing education must be completed?

18 months

length of time COBRA coverage may be kept

12 months

length of time a producer has to apply for reinstatement without having to take an exam after lapse of license

30 days

length of time the certificate holder, licensee, or other person under the jurisdiction of the Commissioner has to comply with any request for information from the Commissioner

5 days

length of time the insurer or reporting agency has to comply when a consumer requests additional information concerning an investigative consumer report

Moral Hazard

living behaviors that tend to put an individual at greater risk of injury

63 days

maximum number of days an insured can have a gap in coverage in order to qualify as an eligible insured under HIPPA

50

maximum number of employees allowed in order for a group to qualify for a guaranteed-issue group plan

60 days

number of days an insurer should receive their Certificate of Authority after meeting all the state Requirements

Accumulation period

period of time during which the annuitant makes premium payments to an annuity

Aleatory

what characteristic of an insurance contract does this describe? - an insured pays a $100 premium every month for his insurance coverage, yet the insurer promises to pay $10,000 for a covered loss.

Dwelling

which is not among the components that make up a commercial package policy? - dwelling, crime, auto, & farm

Limited-benefit plans

which plan is not a type of managed plan... limited-benefit, HMO, POS, & PPO