CBP Health and Welfare Benefits 2

Question 1

What is the primary purpose of a Flexible Spending Account (FSA)?

Accepted Answer

To pay for qualified medical and dependent care expenses with pre-tax dollars

Answer

To invest in mutual funds tax-free

Answer

To supplement Social Security retirement income

Answer

To fund life insurance premiums

Question 2

Which ACA provision requires large employers (50+ FTEs) to offer affordable coverage or face a penalty?

Accepted Answer

Employer Shared Responsibility Provision

Answer

Individual Mandate

Answer

Essential Health Benefits rule

Answer

Minimum Essential Coverage rule

Question 3

Under the Mental Health Parity and Addiction Equity Act (MHPAEA), mental health benefits must be offered at parity with:

Accepted Answer

Medical and surgical benefits

Answer

Dental benefits

Answer

Vision benefits

Answer

Pharmacy benefits

Question 4

What is the IRS limit category for HSA contributions called when both employee and employer contributions are counted together?

Accepted Answer

Annual contribution limit

Answer

Employee elective deferral limit

Answer

Out-of-pocket maximum

Answer

Aggregate deductible

Question 5

Which type of health plan typically features a network of providers and requires referrals to see specialists?

Accepted Answer

HMO

Answer

PPO

Answer

EPO

Answer

HDHP

Question 6

Which federal law requires employers with 15 or more employees to provide equal health benefits to employees with disabilities?

Accepted Answer

ADA

Answer

FMLA

Answer

Title VII

Answer

ADEA