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5 Written questions

5 Matching questions

  1. Lifetime maximum benefit
  2. Revenue rulings
  3. Gainsharing plans
  4. Excess group-term life insurance
  5. Coordination of benefits
  1. a Amount of employer-provided group-term life insurance over $50,000
  2. b Eliminates the duplication of payments when an employee, spouse, or dependents have health coverage under two or more plans
  3. c Group incentives where a portion of the gains an organization realizes from group efforts is shared with the group
  4. d Rulings published by the IRS as general guidelines to all taxpayers or organizations
  5. e Maximum dollar amount of covered medical expenses that a health-care plan will pay on behalf of any covered person during that person's lifetime

5 Multiple choice questions

  1. Organization-wide incentive plans in which funds are made available for incentive awards based on predetermined criteria and standards
  2. One-time payment made to an employee; also called a lump-sum increase (LSI)
  3. Health-care plan in which the employer pays a third-party insurance carrier premiums that cover medical charges, administrative costs, sales commissions, taxes, and profits
  4. Employer-funded plan that reimburses employees only for eligible and substantiated health-care expenses
  5. Health plan where benefits are reduced for employees eligible for Medicare; Medicare becomes the primary provider

5 True/False questions

  1. In loco parentisTotal earnings before taxes; include regular wages plus additional earnings such as tips, bonuses, and overtime pay


  2. Reasonable and customaryReimbursement standard used by insurance companies to determine how much providers should be paid for their services


  3. Self-funded health-care planHealth-care plan in which the employer assumes the role of the insurance company and assumes some or all of the risk


  4. Cliff vestingRequires participants to complete a specific number of years of service with an employer before they get any vested benefits, after which they are 100% vested


  5. Mental Health Parity Act (MHPA)Act that regulates employee status, overtime pay, child labor, minimum wage, record keeping, and other administrative concerns