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

FSAs allow employees to set aside pre-tax dollars to pay for eligible healthcare and dependent care expenses, reducing taxable income.

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

The Employer Shared Responsibility Provision (Pay or Play) requires applicable large employers to offer affordable minimum-value coverage or pay an excise tax.

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

MHPAEA requires that mental health and substance use disorder benefits be no more restrictive than the predominant financial requirements applied to medical and surgical 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

The IRS sets an annual contribution limit for HSAs that applies to the combined total of both employer and employee contributions.

Question 5

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

Accepted Answer

HMO

Answer

HMOs (Health Maintenance Organizations) require members to select a primary care physician who coordinates care and provides referrals to in-network specialists.

CBP - Certified Benefit Professional Practice Test

CBP - Certified Benefit Professional Practice Test

CBP Health and Welfare Benefits 2