Which of the following is the reimbursement of benefits for the treatment of a beneficiaries injuries caused by a third party?
Asked by: Mr. Axel Rogahn | Last update: February 11, 2022Score: 4.3/5 (35 votes)
Which of the following is the reimbursement of benefits for the treatment of a beneficiary's injuries caused by a third party? "Subrogation". Subrogation is the right for an insurer to pursue a third party that caused an insurance loss to the insured.
Which type of policy pays benefits to a policyholder covered under a hospital?
Which type of policy pays benefits to a policyholder covered under a Hospital Expense policy? When benefits are paid to a policyowner covered under a Hospital Expense policy, the policy is known as reimbursement.
Under which of the following circumstances were the benefits under Cobra continuation coverage end?
Under which of the following circumstances will the benefits under COBRA continuation coverage end? One of the disqualifying events that can result in the termination of continuing coverage under COBRA is when the employer terminates all group health plans.
Which type of policy would pay an employee salary if the employer was injured?
When an employee is injured, disabled, or dies while on the job, the employee or their survivors are entitled to workers' compensation coverage A benefits. Under this type of insurance, the employer pays certain benefits such as medical care, lost wages, and rehabilitation costs.
What benefit does the payer clause?
Payor Benefit — a provision under which premiums are waived if the person paying the premiums becomes disabled or dies. This option is often used when the insured is the child or spouse of the policyholder.
What is Reimbursement? Understanding the Health Care Market
What benefit does the payor clause on a juvenile policy provide?
The Payor clause of a juvenile life policy provides a waiver of premiums if the payor becomes disabled. Question: Which provision of a life insurance policy will pay a stated amount to an insured if the insured is blinded in an accident?
What is the advantage of a payor benefit rider?
The Payor Benefit Rider waives premium due on a child's policy in the event of the premium payor's death or total disability occurring before the insured person's 25th birthday.
Which of the following is the reimbursement of benefits for the treatment of a beneficiaries?
Which of the following is the reimbursement of benefits for the treatment of a beneficiary's injuries caused by a third party? "Subrogation". Subrogation is the right for an insurer to pursue a third party that caused an insurance loss to the insured.
What employee benefits liability covers?
Employee benefits liability (EBL) is insurance that covers businesses from errors and omissions that occur when employee benefit plans are administered. ... EBL insurance covers a wide range of plans, including health, dental and life insurance, profit-sharing plans, workers' compensation and employee stock plans.
Which of the following organizations would make reimbursement payments directly to the insured?
Which of the following organizations would make reimbursement payments directly to the insured individual for covered medical expenditures? The correct answer is "Commercial insurer".
In which circumstances may the right to elect continued coverage under COBRA exist for a covered spouse or dependent?
A covered employee's spouse who would lose coverage due to a divorce may elect continuation coverage under the plan for a maximum of 36 months. A qualified beneficiary must notify the plan administrator of a qualifying event within 60 days after divorce or legal separation.
What are the rules for COBRA coverage?
You must meet three basic requirements to be entitled to elect COBRA continuation coverage: Your group health plan must be covered by COBRA; • A qualifying event must occur; and • You must be a qualified beneficiary for that event.
What are COBRA qualifying events?
The following are qualifying events: the death of the covered employee; a covered employee's termination of employment or reduction of the hours of employment; the covered employee becoming entitled to Medicare; divorce or legal separation from the covered employee; or a dependent child ceasing to be a dependent under ...
Which of the following types of policies pays a benefit if the insured goes blind?
Accidental Death and Dismemberment Insurance. Also known as AD&D, this type of insurance pays out if the insured dies, becomes blind or is dismembered (loses a limb) in a covered accident.
In which type of insurance do patients pay for medical expenses out of pocket?
In indemnity insurance, patients pay for health care expenses out-of-pocket. Afterward, the insurance agency will reimburse the patient for the expenses.
Who is financially liable for the payment of covered claims in a fully insured group health plan?
Who is financially liable for the payment of covered claims in a fully insured group health plan? The insurer bears the financial risk for payment of covered claims.
What does employee benefits mean in insurance?
Definition: Employee benefits are payments employers make to employees that are beyond the scope of wages. ... Wages are only one part of an employee's total compensation package.
What are employee liabilities?
Employment Liabilities means all claims, demands, actions, proceedings, damages, compensation, tribunal awards, fines, costs (including but not limited to reasonable legal costs), expenses and all other liabilities whatsoever; Sample 2.
Is health insurance part of employee benefits?
Health insurance programs allow workers and their families to take care of essential medical needs. A health plan can be one of the most important benefits provided by an employer.
Which of the following reimburses its insured for covered medical expenses?
Which of the following organizations reimburses its insureds for covered medical expenses? Health maintenance organizations. Blue Cross/Blue Shield. ... MSAs are also designed to cover routine medical expenses; they are not meant to provide catastrophic coverage.
What is Medicare quizlet?
Medicare is a social insurance program administered by the United States government, providing health insurance coverage to people who are aged 65 and over, or who meet other special criteria.
Is reimbursement for medical care taxable?
To summarize, formal medical reimbursement plans are:
Free of payroll taxes (FICA), like premiums paid for group health insurance premiums. ... Reimbursements are not taxable income, and not included on the employee's W2.
What are the terms used to define the amount of benefit paid in a disability policy that contains an accidental death and dismemberment AD&D Rider?
The principal sum of a AD&D rider attached to a life insurance policy pays: The accidental death and dismemberment (AD&D) rider pays a principal sum if the insured loses any of the following due to an accident: both hands, both arms, both legs, or vision in both eyes.
What do living benefit riders do quizlet?
With a living benefit rider, a portion of the life insurance death benefit becomes accessible in the event of a terminal illness or the need for long-term care. ... An accelerated benefits provision (or rider) allows a payout of some portion of the policy's death benefit while the insured is still living.
Which of the following riders provides for the payment of part of the policy death benefit?
The Accelerated Death Benefit Rider2 provides access to a portion of the policy death benefit in the event the Insured is diagnosed with a terminal illness that results in a life expectancy of 12 months or less.