Question: Which Of The Following Is A Standard Provision Of The Conversion?

Which of these is considered a mandatory provision?

Payment of Claims is considered a mandatory provision and directs where the claim benefits will go.

The others are considered optional provisions.

n an Accident & Health policy, the insuring clause states the amount of benefits to be paid..

What is the required minimum percentage of employee participation?

To avoid adverse selection, the insurer typically requires that at least 75 percent of eligible employees participate in the plan. Under a noncontributory plan, the employer pays the entire premium. Insurance companies typically require 100 percent of eligible employees to participate in noncontributory plans.

What is Florida’s definition of life insurance replacement?

What is Florida’s definition of Life insurance replacement? A transaction in which a new policy is bought and an old policy is terminated. S takes out a health insurance policy which contains a provision that states that the agent does not have the authority to change the policy or waive any of its provisions.

Which of the following is NOT a consequence for placing business with an unauthorized insurer?

Which of the following is NOT a consequence for placing business with an unauthorized insurer? The correct answer is “First degree misdemeanor”. All of these are possible consequences for placing business with an unauthorized insurer EXCEPT the conviction of a first degree misdemeanor.

Why do group health providers usually require a certain amount of participation in the Plan by eligible employees?

why do group health providers usually require a certain amount of participation in the plan by eligible employees? … Under COBRA, an event, such as termination for reasons other than gross misconduct, that allows employees to continue their group health-care coverage for a specified period of time.

What is required in the Florida employee health care access?

The Florida Health Care Access Act allows small businesses to provide group health insurance coverage for its employees on a guarantee-issue basis regardless of health circumstances, preexisting conditions, or claims history.

What is the main difference between coinsurance and copayments quizlet?

copay is the amount you will pay overtime you use medical services. coinsurance is the percentage each party pays for medical services. max out of pocket is the maximum limit you must pay for that period. You just studied 7 terms!

Which of the following best describes the claims forms provision?

Which of the following best describes the claims forms provision? The insurer must supply claim forms to the insured for submitting proof of loss within 15 days of receiving notice of the claim, the insured may submit proof of loss on any piece of paper or in any manner the insured wishes.

Which of the following is a requirement to be eligible for a group health policy?

Groups must have at least two employees to be eligible for group insurance coverage. Group health insurance policy rates are usually based on: Group health insurance policy rates are usually based on experience rating in which premiums are based on the claims experience of the entire group.

What is an example of rebating?

An example of rebating is when the prospective insurance buyer receives a refund of all or part of the commission for the insurance sale. Rebates can be made in the form of cash, gifts, services, payment of premiums, employment, or almost any other thing of value.

What is life and healthcare guaranty association?

Insurance guaranty associations provide protection to insurance policyholders and beneficiaries of policies issued by an insurance company that has become insolvent and is no longer able to meet its obligations.

What is an example of an unfair claims settlement practice?

Other Examples of Unfair Claims Practice For instance, your commercial property policy states that Building Ordinance coverage is included, but your insurer insists the coverage is excluded. Making a significant alteration in an application without your consent and then settling a claim based on the alteration.