d. A covered employee if terminated for grossmisconduct. Which of the following is Medicare Part B also known as? Temporarily Deposit the funds in a personal account. A. Doctormay charge up to a maximum of 15% more than Medicare pays for the service, B. Doctoris not bound by Medicare limitations on charge, C. Doctorcannot charge more than Medicares scheduled coverage, D. Doctor bills the Medicare beneficiary directlyfor services performed, A. Alwaysrequires service in a network, B. Providesa greater choice of providers, C. Alwaysrequires a referral to specialists. A producer has committed an insurance crime that violates US code 1033 (interstate commerce). The exceptions, reductions, and limitations affecting the basic provisions of the policy, Any advertisement that mentions a dollar amount, period of time for which any benefit is payable, cost of policy, policy benefit, or the loss for which the benefit is payable MUST disclose. How is a health provider reimbursed if they do NOT have an agreement in place with the insurance company? A professional liability for which producers can be sued for mistakes of putting a policy into effect is called. The time limit for filing claim disputes is addressed in which provision of an accident and health policy? Intereston death benefits are NOT required to be paid by an insurance company as longas proceeds are paid within __ after the date of the death of the insured. C. Funded by federal, state, and local taxes. Registered for the state insurance examination. Benefits provided by a Medicare Supplement policy must NOT, Funding for Medicare Part B is partially provided by. d. Alump sum payment upon first diagnosis of cancer, heart attack, or stroke. Which of these describes the change that will take place?A) Coordination of benefitsB) ConversionC) Extension of benefitsD) Rollover, Under a group life policy, the insurer will issue an individual _____ to the policyowner for delivery to each person insured.A) policyB) certificateC) applicationD) rider. Whichmarket index is normally associated with an indexed annuitys rate of return? A disability income policy can prevent an insured from earning a higher income than if he/she were working by utilizing. b. Incomeif an insured is unable to work for a period of over six months, c. Coveragefor excess charges not paid for under Medicare. Tim's individual life insurance policy has just recently lapsed. When is an existing health insurance policy required to provide coverage for a new born child? a producers secretary who solicits prospects on the telephone Welcome To Be Falcon Solutions Website Hotline & WhatsApp : +971556212280 | Landline : +97143873596 , +97167499398 james reynolds obituary popeyes vs chicken express do venmo requests expire yorba linda football maxpreps primary care physicians in cleveland ohio Proceeds payable under a life insurance contract to a policyowner in anticipation of death or upon the occurrence of specified life-threatening conditions as defined by the policy are best described as: A temporary producer license in Maryland is valid for up to. The concept is simple - the insured buys the policy and names Life insurance pays after a persons death to help family members pay for debt, lost income, or funeral costs (Life Insurance 686). An annuitant is guaranteed to NOT outlive their benefits will a(n). Shirley has a $500,000 10-year non-renewable level term life policy. A producer who sells an individual life insurance policy in Maryland MUST deliver to the policyowner a, Refusing to pay persons bringing false or fraudulent claims, All of these may be an Unfair Claims Practice EXCEPT, is eligible for a Federal tax credit through the SHOP Exchange, An existing health benefit plan offered by a small employer may be replaced by a SHOP Exchange Navigator only if the small employer, An insurance producer who replaces an existing policy by making false written or oral statements is committing the act of, A producer has recently died and leaves behind a spouse. Life insurance policies will. The ____ is responsible for determining the appropriateness of a Medicare Supplement policy for an applicant. the exceptions, reductions, and limitations affecting the basic provisions of the policy, Any advertisement that mentions a dollar amount, period of time for which any benefit is payable, cost of policy, policy benefit, or the loss for which the benefit s is payable MUST disclose, All of the following is considered a form of advertising EXCEPT. If the consumer price index has gone up 4%, how much may Ron increase the face value of the policy? Whichtype of life insurance is normally associated with a payor benefit rider? Paul has an, An indemnity plan limitation that will pay the dental bills after a small amount is paid by the insured is called. How often must the Commissioner examine each domestic insurance company? Underthe Maryland health insurance plan, comprehensive health benefits are providedto. The right-to-examine period in Maryland for long-Term Care polices is ___ days. Twisting is an illegal act which involves, A producer does NOT have a fiduciary responsibility to. Must be bonded through the state. 5151\left|\begin{array}{ll}5 & 1 \\ 5 & 1\end{array}\right| Written notice for a health claim must be given to the insurer ___ days after the occurrence of the loss. This MANDATORY health policy provision states that the policy, including endorsements and attached papers, constitutes, The entire insurance contract between the parties, All of the following are elements of an insurance policy EXCEPT. a producer's secretary who solicits prospects on the telephone. Which of the following statements is CORRECT regarding an individual applying for life or health insurance? Frank is shopping for a disability income policy. 1. Which of thesestatements is true? An agent is required to keep replacement forms on file for at LEAST _____ years, When a Medicare supplement policy is purchased during the open enrollment period, The policy must be issued regardless of health status, Have it's content approved by the Insurance Commissioner. _____ is NOT an element of valid contract, The automatic premium loan provision authorizes an insurer to withdraw from a policy's cash value at the amount of, Past due premiums that have not been paid by the end of the grace period. The standard grace period for a life insurance policy sold in Maryland is. Normally pay for losses arising from: Which of these would an insurer consider when determining whether to accept a group life plan? juin 5, 2022 . Whoregulates the quality of care provided by a health maintenance organization(HMO), a. Secretaryof department of health and mental hygiene, b. NationalAssociation of insurance commissioners, A.Secretary of the department of health and mental hygiene. Which of the following life events would allow an uninsured employee to qualify for special enrollment in a small employer health benefit plan? Which disability policy provision would address any concerns of the value of the benefits decreasing over time? Adoctor who accepts Medicare Assignment agree to which of the following ? This illustration MUST disclose that. The Commissioner issues a subpoena to a producer. is one of the oldest and best known of all Barbadian funeral establishments. An applicant's character and personal habits can be obtained for underwriting purposes from which source? D. The face amount and premiumwill remain constant over the 10-year period. The Right-to-Examine period in Maryland for Long-Term Care policies is ____ days. EXCEPT for fraud, the time after issuance of a policy during which an insurance company may contest a health insurance claim due to the statements on an application is, All of the following are core benefits of Medicare Supplement Plan A EXCEPT, Deductible payments for the first 60 days of hospitalization under Medicare hospitalization under Medicare hospitalization insurance, Statements made by an insurance applicant on an application are considered to be. This is an unlawful practice known as, must be delivered with or prior to policy delivery. A producer has committed an insurance crime that violates US Code 1033 (interstate commerce). An ___________ insurance company is one that was formed under the laws of another country outside of the U.S. June 5, 2022 . How long must a life insurance policy be in effect before the policyowner may use the nonforfeiture provision? D.) By providing consumer credit counseling. This change is called a(n). Actively solicits increases in limits and/or coverages or rounding out accounts through sales to clients at every service contact. by . How long is the Contestable Period for health insurance policies sold in New Jersey? visas, binomial trials. An individual can enroll in a Part C Medicare Advantage Plan at what time? Maria would like an annuity that provides a guaranteed accumulation or payout. If Jay were to receive a fee for this advice (in addition to his commission), he MUST, Obtain a signed memorandum from the prospect acknowledging the amount of compensation. A provision in a whole life policy that allows a policy owner to terminate the policy in return for a reduced paid-up policy of the same type is called, A type of group that has a constitution and bylaws and has been organized for purposes other than obtaining insurance is called. Which of the following is the likely result? \\ What does the Consolidated Omnibus Budget Reconciliation Act (COBRA) of 1985 allow an employee to do ? Which of the following unfair trade practices involves a producer who makes public malicious statements about an insurer's financial condition? Which of the following situations would be suitable for a temporary work authority? What is the required action to be taken by a Maryland licensee before operating under an assumed business name? Which type of contract may NOT be issued by an insurance company? a producers secretary who solicits prospects on the telephone old restaurants in lawrence, ma . \text{Income taxes payable} & \hspace{13pt}25,000 & \hspace{13pt}28,000 \\ . The policies continue in force with no change. 1. An insurance producer who replaces an existing policy by making false written or oral statements is committing the act of, A license MUST notify the Commissioner of an address change with ___ Days of the change. \text{Total current assets} & \underline{\hspace{8pt}144,000} & \underline{\hspace{8pt}151,000} \\ Claims for a Long-Term Care policy MUST be paid for which of the following conditions? Ron has a life insurance policy with a face value of $100,000 and a cost of living rider. This agreement is called an, Upon receiving a producer complaint, the Commissioner may immediatley, ABC Insurance Company transfers part of their risk to XYZ Insurance Company. \text{Ratained earnings} & \underline{\hspace{13pt}57,000} & \underline{\hspace{13pt}61,000} \\ In the event of employment termination, group health insurance can be kept if the employee pays the premiums, B. Recieve a tax credit to help offset the cost of health insurance, C. Remain of their current coverage for 30 months. Whendoes a life insurance policy typically become effective? Theprescription of a drug for treatments other than whats labeled is known as(Blank) use. A producer's license may only be suspended or revoked if the producer, one or more diagnostic, preventive, therapeutic, rehabilitative, maintenance, or personal care services in a setting other than an acute care unit of a hospital, Long-term care policies sold in Maryland may exclude coverage related to, The Life and health Guaranty Corporation provides funds to carry out its powers and duties by assessing, As of January 1, 2014, small group health insurance can be rated on the basis of, An individual covered under a Blue Cross Blue Shield plan is called a, An HMO that involves a partnership of physicians and other providers who practice out of a central facility is called a, Funding for Medicare Part B is partially provided by, Medicare Part A does not pay for medical benefits provided for treatment in a skilled nursing facility, MEWA (Multiple Employer Welfare Arrangement), Small employers who are sponsored by an insurer to provide group benefits to its employees are called. An eligible employee can be excluded from group health coverage for up to _______ months is he/she is considered a "late enrollee". Percent frequency distribution for key variables. What is the contract called that is issued to an employer for a Group Medical Insurance plan? The individual is paying premiums that are priced for each year or Use LEFT and RIGHT arrow keys to navigate between flashcards; Use UP and DOWN arrow keys to flip the card; Barbara's policy includes a rider which allows her to purchase additional insurance at specific dates or events without evidence of instability. A non-contributory health insurance plan helps the insurer avoid, An employee under a group insurance policy has the right to name a beneficiary and the right to, A) remain on the group in the event of employment termination, D) Convert to an individual policy in the event of employment termination, D) Convert to an individual policy in the event of employment termination, All of the following are Characteristics of a group life insurance plan EXCEPT, Tim is covered under a group plan and would like to change his group coverage to an individual policy with the same insurer because of employment termination. If the company debited Accounts Receivable and credited Sales for $600,000 during the year, what is the total amount of credits recorded in Accounts Receivable during the year? 1. Without a Section 125 Plan in place, what would happen to an employee's payroll contribution to an HSA? Please select the correct language below.
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