CBP Health and Welfare Benefits 1

Question 1

Under the ACA, what is the minimum value threshold for employer-sponsored health plans?

Accepted Answer

60%

Answer

50%

Answer

70%

Answer

80%

Question 2

Which federal law governs continuation of health coverage after a qualifying event such as job loss?

Accepted Answer

COBRA

Answer

ERISA

Answer

HIPAA

Answer

FMLA

Question 3

What is the maximum COBRA continuation period for an employee who loses coverage due to voluntary termination?

Accepted Answer

18 months

Answer

12 months

Answer

24 months

Answer

36 months

Question 4

Which account type allows employees to pay for qualified medical expenses with pre-tax dollars and rolls over unused funds?

Accepted Answer

HSA

Answer

FSA

Answer

HRA

Answer

MSA

Question 5

Under HIPAA, a pre-existing condition exclusion period for group health plans may not exceed how many months?

Accepted Answer

12 months

Answer

3 months

Answer

6 months

Answer

18 months

Question 6

Which term describes the amount an insured must pay out-of-pocket before the health plan begins paying covered expenses?

Accepted Answer

Deductible

Answer

Premium

Answer

Copayment

Answer

Coinsurance