Quiz #3 - Analysis of Proposals, Reporting and Plan Design Matching

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Question 1 of 8
1. Question
What is the recommended frequency for marketing a benefits plan?
- Every year if client prefers
- Every 3 to 5 years
- Every 3 years
- All of the above, whatever the client prefers
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Question 2 of 8
2. Question
Is it appropriate to rely on the Insurer to confirm any and all deviations listed in their quotation?
- Yes, they will respond to requests for a summary of deviations
- No, double check any and all deviations and check for omissions to your request
- No, double check any and all deviations
- Yes, they will respond to requests for a summary of deviations and note any omissions
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Question 3 of 8
3. Question
How many Insurer/Providers should we shortlist in the renewal/marketing report?
- Ten companies to be fully transparent
- Five companies to reduce any
- Three to four companies
- Two companies
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Question 4 of 8
4. Question
What percentage of plan sponsors had not made a plan design change in over a decade.
- 90%
- 45%
- 67%
- 82%
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Question 5 of 8
5. Question
Which statement(s) below is/are correct when discussing coinsurance and deductibles on health plans?
- Insurer charges higher inflation factors when deductible is in use
- Insurer pays higher proportion of claims with a deductible so they charge more
- Coinsurance is preferable over a fixed deductible
- A deductible will erode over time
- All of the above
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Question 6 of 8
6. Question
Which of the following is NOT true about long term disability premiums and the all source maximum benefit?
- Without a graded schedule, higher income earners will pay premium for a benefit they will not receive
- Graded schedules are good for all employees
- A two tiered schedule of 66.67% of the first $4,500 plus 45% of the excess is ideal
- A three tier schedule can mean benefits are too low
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Question 7 of 8
7. Question
Are Mandatory Generic plans just a ploy by the Insurer to decline member’s drug claims?
- No, mandatory generics have the same active ingredients, cost less than the brand, and are a smart way to rationalize scarce financial resources
- No, mandatory generics may not be as effective but they do save plan sponsors money
- Yes, mandatory generics usually mean employees cannot receive any reimbursement for the brand
- Yes, insurers are under pressure to reduce drug costs from plan sponsors and this is one way to do it
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Question 8 of 8
8. Question
How can we consider modernizing the current defined contribution plans to save money?
- Eliminate paramedical and/or vision coverage
- Provide fixed dollars of coverage through a health spending account
- Provide true catastrophic coverage
- All of the above
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Quiz #3 – Analysis of Proposals, Reporting and Plan Design Matching

Quiz #3 – Analysis of Proposals, Reporting and Plan Design Matching

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