Florida Health 240 Insurance With 100% Correct Answers

Third Party Ownership {Ans: A person other than the insured is the owner of the policy. Key employee policy.}Nondiscriminatory classifications {Ans: Generally not required by law.}Health Savings Account (HSA) {Ans: A pre-tax savings account designed specifically for medical expenses.}Apparent Authority {Ans: A third party's reasonable belief that an agent has authority to act on the principal's behalf.}Nonoccupational policy {Ans: Policy with a provision do not cover occupational hazards.}Loss of time coverage {Ans: Disability income coverage.}Insured {Ans: Individual whose life is covered by the policy}Long Term Disability (LTD) {Ans: A significant period of disability generally ranging from six months to life}Service-incurred {Ans: Entitled health care consumer to a wide range of services.}pro rata {Ans: Unearned portion returned.}Alien Insurer {Ans: An insurer domiciled in a country other than the United States.}Void Contract {Ans: an agreement of no legal effect.}Implied Authority {Ans: Authority that is given not in writing but that is necessary for the agent to transact insurance.}subscribers to the service {Ans: Policyholders}Aleatory Contract {Ans: A contract under which one party's performance is contingent on an uncertain event.}Closed Panel HMO {Ans: Limited # of healthcare providers