Worker’s Compensation is an insurance program designed to provide medical treatment and temporary payments to employees who cannot work because of _____
Answer
Correct Answer:
Employment related injury or illness
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Vesting is a maximum amount of time beyond which the employee will have unfettered access to their _____ funds.
Answer
Correct Answer:
Retirement
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A review of the cost of a program and comparison of program costs with the rate of the program’s usage by the members of the company is known as_____
Answer
Correct Answer:
Utilization Review
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Insurance that provides workers who lose their jobs with continuing subsistence payments from their state for a specified period of time is called as Unemployment Insurance.
Answer
Correct Answer:
True
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Traditional Health Care Plans are the plans that cover a set percentage of fees for medical services—for _____
Answer
Correct Answer:
Both a and c
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Serious Health Condition is an illness, injury, impairment, or physical or mental condition that involves either inpatient care or continuing care for at least _____ consecutive days.
Answer
Correct Answer:
Three
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Primary Care Physician is the first point of contact for _____
Answer
Correct Answer:
Both a and c
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PPOS is a kind of hybrid between traditional fee-for-service plans and _____
Answer
Correct Answer:
HMO
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PBGC is a governmental corporation established within the _____ whose purpose is to insure retirement funds from failure.
Answer
Correct Answer:
Department of Labor
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HSA is a plan allowing the employer and employee to fund a medical savings account from which the employee can pay medical expenses each year with _____ dollars.
Answer
Correct Answer:
Pretax
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HMO is a health care plan that provides_____as part of the plan.
Answer
Correct Answer:
Both a and b
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_____ is a “major medical” insurance plan that protects against catastrophic health care costs and, in most cases, is paid for by the employer.
Answer
Correct Answer:
None of these
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Experience Rating is a measure of how often claims are made against an _____ policy.
Answer
Correct Answer:
Insurance
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Individuals who are not legally married but who are in a one-to-one living arrangement similar to marriage are called as Domestic Partners.
Answer
Correct Answer:
True
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Defined-Contribution Plan is a plan providing only the amount of funds that will go into a retirement account,and what the employee will receive upon retirement.
Answer
Correct Answer:
False
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A plan providing the retiree with a specific amount and type of benefits that will be available when the individual retires is known as_____
Answer
Correct Answer:
Defined-Benefit Plan
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COBRA is a law that requires employers to offer to maintain _____ on individuals who leave their employment.
Answer
Correct Answer:
Health insurance
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