finance chapter 11

The cost of long term care, such as a prolonged stay (greater than 100 days) at a nursing home, is Generally covered by Medicare. Generally not covered by Medicaid. Generally covered by state insurance plans. Generally not covered by Medicare. Generally not covered by Medicare.
Which health insurance plan is administered by each state within certain broad federal requirements and guidelines? Medicaid Medicare Blue Cross Blue Shield Medicaid
You have elected to deposit $130 per month in your flexible spending plan next year. Assuming a 35% tax bracket, how much in qualifying medical expenses would you have to incur to break even on your deposits to the flexible spending plan next year? $1,224 $1,170 $1,014 $360 $1,014
A UCF graduate makes $750 per week and has a disability plan that pays 70% of his/her salary after the first four weeks of disability. If the graduate is disabled for 18 weeks, how much will he/she receive from the insurance company? $8,925 $9,450 $6,825 $7,350 $7,350
A family has health coverage that pays 85% of medical expenses after the first $500 of qualifying expenses. If the family incurs $1,300 of medical expenses during the year, how much will their insurance company pay of the total claims incurred? $1,300 $640 $680 $800 $680
Your employer has offered you a choice of a lower cost HMO plan or a higher cost standard health insurance plan. Next year you will need physical therapy and want to compare the cost of the therapy under the two plans.The standard health insurance plan pays 70% of therapy after a $200 deductible, while the HMO will pay the full cost of the therapy as long as you pay a $15 co-payment per visit.Assume you need 10 therapy sessions that will cost $60 each for the high cost plan ($15 for HMO).How much would you save using the HMO vs. the traditional health insurance plan? – $450 – $190 – $280 – $170 $170
Which of the following was enacted to help pay for the Affordable Care Act? – An investment tax on high income individuals. – A penalty on large employers who do not offer health insurance to full time workers.- A reduction in the amount of allowed spending in a flexible spending account. – An increase in the limitation on medical expenses on Sch. A for individuals under 65 years old.- All of the above. All of the above.
Under the rules of COBRA, how long can you continue medical coverage if your employer has more than 20 employees?- 12 – 24 months – 24 – 36 months – 18 – 36 months – 12 – 48 months 18 – 36 months
Most group health policies have a coordination of benefits provision, which is a method of integrating the benefits payable under more than one health insurance plan so that benefits are limited to no more than 200% of allowable expenses (e.g. if you and your spouse each have health insurance which covers each other, then you can collect no more than twice the claim since you each are paying premiums).- True – False False
Refer to the first article in the web work.Regarding potential changes in the Affordable Care Act (ACA), which of the following statements is FALSE according to the article?- If subsidies are eliminated, fewer people will have insurance and markets would become unstable. The Urban Institute estimates that 22.5 million people might lose insurance.- An estimated 12.9 million might lose Medicaid insurance and Republicans are discussing reforms to Medicaid that would give more autonomy to the states. – Republicans would likely eliminate rules that require a minimum package of benefits, and the President would like change rules to allow insurance to be sold across state lines.- More people will be moved to Medicare rather than private insurance in order to save money.- Less contentious provisions of the ACA such as requiring restaurants to disclose calorie counts on their menus are likely to remain unchanged. More people will be moved to Medicare rather than private insurance in order to save money.

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