#1
Which of the following statements best describes group health insurance?
Insurance provided to a group of people, typically employees of a company
ExplanationCoverage extended to a group, often employees, by an insurance policy.
#2
What is the main purpose of disability insurance?
To provide financial protection in case of income loss due to disability
ExplanationInsurance designed to offer financial support in the event of income loss due to disability.
#3
Which of the following is NOT typically covered under group health insurance?
Cosmetic surgery
ExplanationGroup health insurance usually does not cover cosmetic surgery.
#4
Which of the following is a characteristic of a Health Maintenance Organization (HMO) plan?
Requires referrals from a primary care physician for specialists' visits
ExplanationHMO plans necessitate referrals from primary care physicians for specialist visits.
#5
Which of the following is NOT typically covered under disability insurance?
Cosmetic surgery unrelated to the disability
ExplanationDisability insurance generally does not cover cosmetic surgery unrelated to the disability.
#6
What is COBRA in the context of group health insurance?
A law that allows individuals to continue their group health coverage for a limited time after leaving a job
ExplanationLegislation enabling individuals to maintain group health coverage briefly post-employment termination.
#7
Which of the following is a characteristic of a short-term disability insurance policy?
It typically covers disabilities lasting less than one year
ExplanationShort-term disability policies usually cover disabilities with durations of less than one year.
#8
Which of the following types of disabilities are typically covered by long-term disability insurance?
Both physical and mental disabilities
ExplanationLong-term disability insurance typically covers both physical and mental disabilities.
#9
What is the 'elimination period' in disability insurance?
The waiting period before benefits kick in after the onset of disability
ExplanationWaiting duration before disability insurance benefits commence after the disability begins.
#10
What does the term 'pre-existing condition' refer to in the context of health insurance?
A condition that existed prior to the policy's effective date
ExplanationIn health insurance, a pre-existing condition is a medical condition existing before the policy's effective date.
#11
In group health insurance, what is meant by the term 'premium'?
The amount of money paid by the insured individuals or their employers to the insurance company to maintain coverage
ExplanationThe payment made by insured individuals or their employers to the insurance company for maintaining coverage in group health insurance.
#12
What is the purpose of a waiver of premium provision in disability insurance?
To waive the premium payments during a period of disability
ExplanationProvision in disability insurance where premium payments are waived during a disability period.
#13
Which federal law mandates certain employers to provide group health insurance coverage to their employees?
Affordable Care Act (ACA)
ExplanationThe Affordable Care Act (ACA) mandates certain employers to provide group health insurance coverage to employees.
#14
Which of the following federal laws prohibits discrimination against individuals with disabilities in employment?
Americans with Disabilities Act (ADA)
ExplanationAmericans with Disabilities Act (ADA) prohibits discrimination against individuals with disabilities in employment.
#15
What is the purpose of a coordination of benefits provision in group health insurance?
To determine the order of payment when a person is covered by more than one health insurance plan
ExplanationProvision in group health insurance determining the payment order when an individual has coverage under multiple health insurance plans.