NJ Health Insurance Exam (XCEL Solutions) Actual Complete
Real Examm Questions & Correect Answers | 100% Verified
solutions | Already Graded A+ | Newest Exam | Just Released!!
A policyholder has a major medical plan with 80%/20%
coinsurance and a deductible of $75. If the insured has
previously met her deductible and received a bill for $175, how
much will the insurer pay? - ANSWER-$140
All of these are characteristics of a major medical expense
policy EXCEPT
large benefit
maximum
deductibles
elimination
periods
coinsurance - ANSWER-elimination
periods
The elimination period under a hospital indemnity plan is -
ANSWER-the specified number of days an insured must wait
before becoming eligible to receive benefits for each
hospitalization
All of the following are qualifications for establishing a health
savings account
(HSA) EXCEPT
,enrolled in a high deductible
plan be under the age of 65
enrolled in a health plan with a prescription drug benefit
enrolled in a health plan that limits out of pocket expenses -
ANSWER-enrolled in a health plan with a prescription drug
benefit
How is a health provider reimbursed if they do NOT have an
agreement in place
with the insurance company? - ANSWER-with a usual,
customary, and
reasonable
fee
A pharmacy benefit covers prescription drugs derived from a
list called a(n) -
ANSWER-drug
formulary
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? -
ANSWER-$800
A fee for service health insurance plan will normally cover -
ANSWER-a disease
,Who is the individual paid on a fee-for-service basis? -
ANSWER-provider
Distributions from a Health Savings Account (HSA) for
qualified medical
expenses are - ANSWER-
tax-free
Which of these factors is not taken into consideration when
determining the cost
of a long term care policy? - ANSWER-
personal income
A Medicare supplement plan can be cancelled by the insurer
- ANSWER-for
nonpayment of
premiums
The IRS states that a taxpayers' medical expenses that
exceed 7.5% of their
adjusted gross income is tax deductible. Which of the
following may be
considered a medical expense under this rule? - ANSWER-
long term care
insurance
premiums
Bill requires some nursing care and supervision but NOT full-
time care. Which
, of these nursing home options would best serve him? -
ANSWER-assisted
living
Which of these statements about Medicare is CORRECT? -
ANSWER-funded
by federal, state, and local
taxes
A long-term care policy typically provides all of the
following levels of care
EXCEPT
skilled
care
intermediate
care
acute
care
custodial care - ANSWER-
acute care
A Medicare Supplement Policy is - ANSWER-designed to fill in
the gaps of Part
A and Part B
Medicare
Generally speaking, which three levels of care are Long-
Term Care policies
Real Examm Questions & Correect Answers | 100% Verified
solutions | Already Graded A+ | Newest Exam | Just Released!!
A policyholder has a major medical plan with 80%/20%
coinsurance and a deductible of $75. If the insured has
previously met her deductible and received a bill for $175, how
much will the insurer pay? - ANSWER-$140
All of these are characteristics of a major medical expense
policy EXCEPT
large benefit
maximum
deductibles
elimination
periods
coinsurance - ANSWER-elimination
periods
The elimination period under a hospital indemnity plan is -
ANSWER-the specified number of days an insured must wait
before becoming eligible to receive benefits for each
hospitalization
All of the following are qualifications for establishing a health
savings account
(HSA) EXCEPT
,enrolled in a high deductible
plan be under the age of 65
enrolled in a health plan with a prescription drug benefit
enrolled in a health plan that limits out of pocket expenses -
ANSWER-enrolled in a health plan with a prescription drug
benefit
How is a health provider reimbursed if they do NOT have an
agreement in place
with the insurance company? - ANSWER-with a usual,
customary, and
reasonable
fee
A pharmacy benefit covers prescription drugs derived from a
list called a(n) -
ANSWER-drug
formulary
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? -
ANSWER-$800
A fee for service health insurance plan will normally cover -
ANSWER-a disease
,Who is the individual paid on a fee-for-service basis? -
ANSWER-provider
Distributions from a Health Savings Account (HSA) for
qualified medical
expenses are - ANSWER-
tax-free
Which of these factors is not taken into consideration when
determining the cost
of a long term care policy? - ANSWER-
personal income
A Medicare supplement plan can be cancelled by the insurer
- ANSWER-for
nonpayment of
premiums
The IRS states that a taxpayers' medical expenses that
exceed 7.5% of their
adjusted gross income is tax deductible. Which of the
following may be
considered a medical expense under this rule? - ANSWER-
long term care
insurance
premiums
Bill requires some nursing care and supervision but NOT full-
time care. Which
, of these nursing home options would best serve him? -
ANSWER-assisted
living
Which of these statements about Medicare is CORRECT? -
ANSWER-funded
by federal, state, and local
taxes
A long-term care policy typically provides all of the
following levels of care
EXCEPT
skilled
care
intermediate
care
acute
care
custodial care - ANSWER-
acute care
A Medicare Supplement Policy is - ANSWER-designed to fill in
the gaps of Part
A and Part B
Medicare
Generally speaking, which three levels of care are Long-
Term Care policies
