Kentucky Health Insurance Exam | Study Questions and Verified Answers| 100 % Correct| Grade A (New 2024/ 2025 Update)
QUESTION
Individuals who
... [Show More] itemize deductions can claim deductions for medical expenses not covered by health insurance that exceed what percent of their adjusted gross income? A. 5% B. 7% C. 10% D. 15%
Answer:
C. 10%
QUESTION
What is another name for an Administrative Services only arrangement? A. Self funding B. Third party administrator C. A modified fully insured plan D. Modified endowment contract
Answer:
B. Third party administrator
QUESTION
Social Security Supplement SIS or Social Security riders would provide for the payment of income benefit in each of the situations except A. If the insured has been denied coverage under social security B. When the amount payable under social security is more than the amount payable under the rider. C. When used to replace or supplement benefits payable under other social insurance programs D. When the insured is eligible for Social Security benefits but before the benefits begin
Answer:
B. When the amount payable under social security is more than the amount payable under the rider.
QUESTION
The provision in a health insurance policy that ensures that the insurer cannot refer to any document that is not contained in the contract is the... A. Entire contract clause. B. Time limit on certain defenses clause. C. Incontestability clause D. Legal action
Answer:
A. Entire contract clause
QUESTION
Which clause states that a representation may NOT be contested after a two-year period? A. Free look. B. Noto contendere C. Grace period D. Incontestability
Answer:
D. Incontestability
QUESTION
The total of all assessments upon a member insurer for each account cannot legally exceed what percent of the insurer's premium received in this state during the calendar year preceding the assessment? A. 2% B. 12% C. 5% D. 20%
Answer:
A. 2%
QUESTION
If all required conditions are met and the insured does not have Medicare hospital coverage. Medicare Part B will cover how many home health days? A. 20 per year B. 30 per year C. 50 per year D. Unlimited
Answer:
D. unlimited
QUESTION
The benefits received by the business in a disability buy sell policy are...A. partially taxable B. fully taxable C. income tax free d. tax deductible
Answer:
C. income tax free
QUESTION
In reference to the standard Medicare supplement benefits plans what does the term standard mean? A. coverage options and conditions comply but will carry from provider to provider. B. All plans must include basic benefits a-n. C. coverage options are developed for average individuals. D. All providers will have the same coverage options and conditions for each plan
Answer:
D. All providers will have the same coverage options and conditions for each plan.
QUESTION
The full premium was submitted with the application for life insurance, and the policy was issued two weeks later as requested. When does the policy coverage become effective? A. as of the first of the month after the policy issue. B. As of the policy issue date C. as of the application date D. As of the policy delivery date
Answer:
C. as of the application date
QUESTION
Under what type of group health plan does the insurer issue the plan on one year renewable term basis and the premium for each year only pays for that year's coverage? A. Annual fully insured B. convention fully insured C. modified fully insured. D. premium daily arrangement
Answer:
B. conventional fully insured.
QUESTION
An insured is involved in an accident that renders him permanently deaf [Show Less]