America's Benefit Specialist January-February 2023

CPC QUIZ

1. Across the board, rates are expected to increase by around _________ for employers and employees, con tinuing an uphill trend.

7. In March, a record 4.53 million people quit their jobs. That surpassed the previous _______mark of 4.51 million in November 2021. A. mid B. expected C. high D. targeted 8. It’s no wonder that 94% of _________ say that con trolling the cost of healthcare benefits is a top priority. A. employees

A. 10% B. 20% C. five percent D. 12%

2. Global supply-chain issues and overall 2023 healthcare spend is expected to ________ exponentially.

A. fluctuate B. stabilize C. increase D. reduce

B. families C. carriers D. U.S. employers

9. This priority is mirrored in the Quest Diagnostics Report, which found that 90% of _______ executives believe employers need to control health insurance expenses more. A. HR

3. This created a Catch-22 where family members were not eligible for exchange subsidies because they were eligible for affordable family coverage, but also could not afford the employer-sponsored coverage. This became known as the __________. A. Family Glitch

B. mid-level C. top-paid D. unemployed

B. employer exchange C. subsidies exchange D. Affordable Care Act

10. Effective _____________, an Individual Coverage Health Reimbursement Arrangement is a group health bene fit based on a pre-determined contribution that gives individuals choice and employers flexibility.

4. This year, Treasury and the IRS issued final regulations amending ACA regulations. These rulings stipulated the affordability for an employee’s family members to participate in employer-sponsored healthcare. The amendments are effective at the start of the _________ tax year and could allow more family members to be potentially eligible for a premium tax credit in the marketplace.

A. December 31, 2022 B. December 15, 2021 C. January 1, 2023 D. January 1, 2020

11. “___________________are a popular bipartisan policy solu tion to cover more Americans with affordable, quality health insurance,” said Robin Paoli. A. Health Savings Accounts B. Health Reimbursement Arrangements C. Flexible Spending Accounts D. Tax-deferred dollars 12. Not since the explosion of the _______ has there been an opportunity to transform employee benefits like ICHRA.

A. 2022 B. 2024 C. 2023 D. 2025

5. To receive the ____________, enrolled employees submit receipts for qualified expenses or premium payments. A. benefit B. tax credit C. reimbursement D. exemption 6. In the Quest Diagnostics Report, ________ of those thinking about changing jobs cited the need for better healthcare benefits as a reason why they are looking.

A. HSA B. HRA C. 401K D. IRS infrastructure

A. 26% B. 36% C. 52% D. 46%

38 ABS | benefitspecialistmagazine.com