FREE AND STUDY GAMES ABOUT LH14 EXAM

PDF Download FREE AND STUDY GAMES ABOUT L&H14 EXAM

QUESTIONS

Actual Qs and Ans Expert-Verified Explanation

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-Guarantee passing score -6 Questions and Answers -format set of multiple-choice -Expert-Verified Explanation Question 1: Michelle's corporation chose a high-deductible health plan (HDHP) because it:

Answer:

All such plans cover preventative costs, and HDHPs are not needed to establish an FSA. As for MSAs, they specifically for small business and the self-employed. HSAs are the only plan that meet the criteria of the question.Question 2: under what business-related plans are benefits taxable as income to the owner

Answer:

Business Overhead Expense Since the premium is deductible, the benefits received are taxable.Question 3: What taxes apply to the benefits under an individual Disability Income Policy on which the insured has paid the premiums?

Answer:

No tax; Benefits received from an individual Disability Income Policy are not subject to taxation.

Question 4: Is the Pay out of Key Person Disability a taxable event

Answer:

nope!Question 5: What is the difference between a Health Reimbursement Account (HRAs) and a Health Savings Account (HSA)?

Answer:

HRAs are owned by the employer, and are not portable when an employee leaves. There is no limit on employer contributions, and non-qualified cash disbursement are not allowed.Question 6: The 'Appeal Rights' required by the Affordable Care Act apply to:

Answer:

The ability to appeal is the ability to appeal a judgment regarding the applicability of benefits to a specific situation. It is similar to the ability to appeal benefit denials in an HMO