America's Benefit Specialist October 2022

CPC QUIZ

7. The HSA has evolved to become part of a rewards strategy capable of “quadruple duty.” Which is not a rewards strategy? A. Fund current and future year medical costs B. Fund Medicare and long-term care premiums and out-of pocket medical and LTC costs in retirement C. Provide an income in retirement without tax penalty (after age 65) D. Cannot be served as a survivor or legacy benefit 8. HSA assets receive America’s most valuable benefits tax pref erence. Which is not true? A. HSA contributions are pre-tax for federal income tax purposes. B. Earnings accumulate tax-deferred and payouts for eligible medical expenses are tax-free. C. More medical expenses qualify under FSAs than under HSAs. D. There are no use-or-lose or forfeiture provisions. 9. Which is not a tax-preferred benefit? A. HSA B. Plan premiums C. FSA D. Tax-qualified retirement savings plan 10. Which is not a strategy to prompt workers to leverage the tax preferences only available through an HSA? A. Offer a variety of health coverage options that are HSA-ca pable and non-HSA-capable. B. Deliver any employer financial support to the HSA as a matching contribution. C. Provide transition rules/features/protections for individu als when they first enroll in HSA-capable coverage. D. Prompt mid-year re-enrollment into the HSAs or a mid year automatic escalation in HSA contributions. 11. _____ rules state that regulated entities are required to verify that persons or entities seeking access to ePHI are who they claim to be by implementing authentication processes. A. ACA B. Premium tax credit C. HIPAA D. Medicare

1. Employer-sponsored insurance covers almost _____ non-el derly people, according to the 23rd annual Employer Health Benefits Survey by the Kaiser Family Foundation. A. 15 million B. 85 million C. 155 million D. 247 million 2. Which of the following information is not required in a cen sus document? A. Employees’ name B. Employees’ date of birth C. Employees’ medical history D. Employees’ Zip Code 3. The same information must be provided in a census docu ment that will be shared with the insurance market for any C. market expectations D. broker compensation 4. A/An _____ meeting is to ensure that all employees receive a comprehensive overview of the benefits offered. A. training B. open-enrollment C. team-building D. brainstorming 5. Outside of the open-enrollment period, employees can only make changes to their plans if they experience a _____. A new broker B. strategic change C. change in management D. qualifying event 6. Healthcare affordability is a top concern for many workers, in particular _____ or those coping with a chronic medical condition. A low-wage earners B. high-wage earners _____ that will be covered. A. spouses or dependents B. employers’ claims

C. two-income households D. one-income households

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