Xcel Testing Solutions- Life And Health Insurance-Exam- Questions And Correct Verified Answers Already Graded A+ 2024

Xcel Testing Solutions Life and Health Insurance 215| Questions With Verified Solutions 2024 The focus of major medical insurance is providing coverage for Correct Answer medical and hospitalization expenses An insured under a Major Medical expense plan with a zero deductible and 80/20 coinsurance provision files a $1,000 claim. How much of this claim is the insured responsible for? Correct Answer $200 because this policy has a zero deductible, the insures is only responsible for the 20% coinsurance on this claim, or $200 An insured has a stop-loss limit of $5,000 and an 80/20 coinsurance. The insured incurs $25,000 of covered losses. How much will the insured pay? Correct Answer $5,000 Which type of plan would be the most appropriate for an individual on Medicare and concerned that Medicare will NOT pay for charges exceeding the approved amount? Correct Answer Medicare supplement Plan F When can a group health policy renewal be denied according to the Health Insurance Portability and Accountability Act (HIPAA)? Correct Answer when contribution or participation rules have been violated What does the word "level: in Level Term describe? Correct Answer the face amount A non-contributory health insurance plan helps the insurer avoid Correct Answer adverse selection because all eligible employees are usually covered, non-contributory plans are desirable from an underwriting standpoint because adverse selection is minimized. To qualify for a resident producer license in the state of Michigan, an individual Correct Answer must complete the required pre-licensing education within 12 months of license application Under an expense-incurred individual health policy, what is the MAXIMUM length of time after issuance of the policy that an insurer can exclude coverage for a pre-existing