CEC ACA & Marketplace Fundamentals 2

Question 1

Which federal agency oversees the Health Insurance Marketplace established under the ACA?

Accepted Answer

Centers for Medicare & Medicaid Services (CMS)

Answer

Department of Labor

Answer

Social Security Administration

Answer

Office of Personnel Management

Question 2

What is the maximum income level (as a percentage of the Federal Poverty Level) at which individuals can qualify for premium tax credits on the Marketplace?

Accepted Answer

No upper income limit (through 2025 under enhanced subsidies)

Answer

200% FPL

Answer

300% FPL

Answer

400% FPL

Question 3

A consumer who loses job-based coverage on June 15 has how many days to enroll in a Marketplace plan using a Special Enrollment Period?

Accepted Answer

60 days

Answer

30 days

Answer

90 days

Answer

120 days

Question 4

Which metal tier plan typically has the lowest monthly premium but highest out-of-pocket costs when care is used?

Accepted Answer

Bronze

Answer

Platinum

Answer

Gold

Answer

Silver

Question 5

Cost-sharing reductions (CSRs) are available exclusively with which Marketplace metal tier?

Accepted Answer

Silver

Answer

Bronze

Answer

Gold

Answer

Platinum

Question 6

What document serves as the primary legal authority establishing the Health Insurance Marketplace?

Accepted Answer

Patient Protection and Affordable Care Act (ACA)

Answer

ERISA

Answer

HIPAA

Answer

COBRA

Question 7

Which of the following is NOT a type of health plan available through the ACA Marketplace?

Accepted Answer

Indemnity Plan

Answer

HMO

Answer

PPO

Answer

EPO