Exam 16: Employee Benefits: Group Life and Health Insurance

The period of time during which an employee can sign up for group insurance coverage without furnishing evidence of insurability is called a(n)

Which of the following statements about the continuation of group health insurance under COBRA is true?

An HMO physician who determines if medical care from a specialist is necessary is called a(n)

Advantages of cafeteria plans include all of the following EXCEPT

Which of the following statements about supplemental group major medical insurance is (are)true? I.Most plans have a lifetime limit of $50,000 to $100,000. II.Most plans contain an out-of-pocket maximum that places a dollar limit on the maximum amount an individual must pay out of his or her own pocket.

Which of the following is (are)characteristics of HMO managed care plans? I.Unlimited choice of physicians and hospitals II.Emphasis on controlling the cost of covered services

Which of the following statements regarding the Health Insurance Portability and Accountability Act is true?

HBM Company offers three health plans to its employees.The "Gold Plan" costs $500 per month and provides generous benefits.The "Silver Plan" costs $350 per month and provides more limited benefits.The "Bronze Plan" is quite limited and costs $250 per month.HBM contributes $250 per month for each employee's health care benefits.Employees who desire broader coverage are free to contribute additional money to fund the coverage.Based on the description,HBM's health plan is a

All of the following are reasons why employers self-insure medical expense plans EXCEPT

Under one type of HMO,the physicians are employees of the HMO and are paid a salary and sometimes an incentive bonus to hold down costs.This type of HMO is called a(n)

Which of the following statements about group term life insurance is true?

All of the following statements about group long-term disability income plans are true EXCEPT

All of the following statements about the characteristics of group insurance are true EXCEPT

Turner Company self-insures its group life and group health insurance plans.Turner entered into an agreement with ABC Insurance through which ABC handles the plan design,claims processing,and record keeping for Turner.The agreement between Turner and ABC is called a(n)

All of the following statements about the eligibility requirements for group insurance are true EXCEPT

HMOs typically pay network physicians or medical groups a fixed annual or monthly payment for each member,regardless of the frequency or type of service provided.This payment is called a(n)

An HMO that contracts with two or more independent group practices to provide medical services to covered members is called a(n)

High deductible group health insurance plans have all of the following characteristics EXCEPT

Which of the following statements about HMO managed care plans is (are)true? I.There is an emphasis on controlling costs. II.They usually have high deductibles.

Which of the following statements about group insurance underwriting principles is true?