Xcel Final Exam Questions and Answers 100% Passed

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Xcel Final Exam Questions and Answers 100% Passed Typically, Long-Term Disability benefits are coordinated with which benefit plan? ✔✔Social Security The focus of major medical insurance is providing coverage for ✔✔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? ✔✔$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? ✔✔$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? ✔✔Medicare supplement Plan F When can a group health policy renewal be denied according to the Health Insurance Portability and Accountability Act (HIPAA)? ✔✔when contribution or participation rules have been violated What does the word "level: in Level Term describe? ✔✔the face amount A non-contributory health insurance plan helps the insurer avoid ✔✔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 ✔✔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 condition? ✔✔12 months pre-existing conditions may be excluded for a maximum of 12 months from the date of enrollment. An insured has a health plan that pays established amounts in accordance with a list of injuries, surgical procedures, or other losses. This list is called a ✔✔benefit schedule benefits schedule set predetermined limits or maximums on how much money and insured can be reimbursed for a covered loss. Who is the individual paid on a fee-for-service basis? ✔✔Provider Which of the following is NOT an illegal inducement? ✔✔Giving the insured an article of merchandise printed with the producer's name costing $5 $5 or less of tokens or merchandise to applicants is allowed. Making a statement that is false or maliciously critical of the financial condition of an insurer is known as ✔✔defamation Which of the following is NOT a required provision in an accident and health insurance policy? ✔✔change of occupation the change of occupation provision is considered an OPTIONAL provision Which of these statements about Medicaid is CORRECT? ✔✔Funded by federal, sate, and local taxes Medicaid is funded by federal, state, an

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