CBP Health and Welfare Benefits

Question 1

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

Accepted Answer

60%

Answer

The ACA requires employer-sponsored plans to cover at least 60% of the total allowed costs of benefits to satisfy minimum value requirements.

Question 2

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

Accepted Answer

COBRA

Answer

COBRA (Consolidated Omnibus Budget Reconciliation Act) requires group health plans to offer continuation coverage to qualified beneficiaries after a qualifying event.

Question 3

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

Accepted Answer

18 months

Answer

Employees who lose coverage due to termination or reduction in hours are entitled to up to 18 months of COBRA continuation coverage.

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

Health Savings Accounts (HSAs) allow pre-tax contributions that roll over year to year and are only available to those enrolled in a High-Deductible Health Plan.

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

HIPAA limits pre-existing condition exclusion periods to 12 months (18 months for late enrollees) for group health plans.

CBP - Certified Benefit Professional Practice Test

CBP - Certified Benefit Professional Practice Test

CBP Health and Welfare Benefits