America's Benefit Specialist August-September 2022

CPC QUIZ

1. The problem is that the current Affordable Care Act law de fines “affordable” coverage solely for the _____ and not their family members who also need benefits. A. employee

7. The average premium for family coverage has increased 22% over the last five years and _____ over the last 10 years. A. 34% B. 39% C. 47% D. 52% 8. Which is not an advantage of level-funding a self-funded health benefits plan? A. There is the ability to tailor benefits. B. Multiple types of reporting are available. C. Plans are not subject to state health insurance premium taxes on claim fund dollars and administration expenses. D. A surplus remaining at the end of the year is forfeited. 9. A/an _____ plan is a mechanism that allows employers to fund a portion of their employees’ eligible out-of-pocket expenses, such as deductible and/or coinsurance expenses. A. HRA B. FSA C. HSA D. 401K 10. _____ stop-loss insurance protects the employer from unusu ally high claims of a particular covered person. A. Specific B. Fully insured C. Excess D. Self-funded 11. MVP plans can be difficult to obtain for employers who have _____ or less ACA benefits-eligible employees. A. 20 B. 50 C. 500 D. 1,000 12. The _____ requires that the coverage be affordable according to the current safe-harbor rules. A. Employer Shared Responsibility Provision B. Affordable Care Act C. family glitch D. stop-loss insurance

B. employee and spouse C. employee and children D. employer

2. It is estimated that the family glitch impacts upwards of _____ Americans and has made it nearly impossible for many to obtain coverage at all. A. 580,000

B. 2.3 million C. 5.1 million D. 9.4 million

3. The Kaiser Family Foundation predicts _____ impact, but rather that this update could in turn help the overall market due to the “good health” of those who would now have access through the Marketplace. A. little positive B. little negative C. large positive D. large negative 4. The KFF found that _____ of those who fall into the family glitch are in good, very good or excellent health. 5. Considering the individuals joining the Marketplace would be predominately healthy, it will only serve to improve how the _____ comes into play with the large community rating of each state respectively. A. Law of Large Numbers B. Law of Probability C. Law of Statistics D. Law of Demand 6. _____ stop-loss insurance protects the employer from unusu ally high overall claims. A. Specific A. 39% B. 59% C. 72% D. 94%

B. Aggregate C. Advanced D. Monthly

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