Exam 10: Employer-Sponsored Retirement Plans and Health Insurance Programs

________ plans refer to pension plans that do not meet at least one of the minimum standard provisions.

This type of defined contribution plan,also known as a CODA,permits only private sector or tax-exempt employers' employees to tax defer part of their compensation to the trust of a qualified plan.

In which plan do employees possess the option to receive care from health care providers outside the designated network of physicians,paying more for the choice?

According to ________ Act of 2008,a plan must calculate only one deductible for treatment related substance use disorders and medical or surgical benefits.

This is the condition for which medical advice,diagnosis,care,or treatment was received or recommended during a designated period prior to coverage.

A company uses graduated first-dollar-of-profits formula for their profit-sharing plans.They choose to share 4% of the first $10 million of after-tax profits and 7% of the after-tax profits in excess of that level.Last year if this company's after-tax profit were $15 million,how much of this profit would be distributed to the employees?

Fixed first-dollar-of-profits,graduated first-dollar-of-profits,and profitability threshold formulas establish ________ contributions.

Your company asked you to come up with a contribution plan that invests the contributions in company securities and distributes the payouts in stock instead of cash.Which plan would you suggest they use?

________ plans permit employees to defer part of their compensation to the trust of a qualified defined contribution plan.

What are the two types of fee-for-service plans?

Common HMO copayment amounts for each doctor's visit vary between?

________ are nominal payments an individual makes as a condition of receiving services.

Which of the following represents the most approximate percentage for private sector employees who have access to at least one employer-sponsored health insurance program in 2010?

Under a preferred provider organization (PPO),higher ________ are set for services rendered by nonnetwork providers to discourage participants from using services outside of the network.

What percentage of Americans experience some form of mental illness at least once during their lifetime?

IRS guidelines define ________ plans as "defined benefit plans that define benefits for each employee by reference to the amount of the employee's hypothetical account balance."

What is coinsurance?

________ accounts allow employees to pay for specified health care costs not covered by an employer's insurance plan.

Define health insurance concepts such as insurance policy and premium and explain the different types of health insurance programs.What are the differences among these programs?

These types of insurance plans provide protection against health care expenses in the form of cash benefits paid to the insured,or directly to the provider after the services are rendered.