Which of the following is NOT typically included in a major medical ins. policy large number of exclusions The purpose of the waiting period in disability income ins. is to eliminate payments for minor illness Which of the following was described in the text as the most desirable kind of health ins. renewability feature noncancellable The patients bill of rights act of 1999 proposes which of the following all of the above Which one of the following is not a reason for the increase in health care costs increased cost of funeral expenses Which of the following is not a characteristic of group ins. benefits are individually selected by the employee Characteristics of group ins. include all but which one of the following preexisting health impairments are typically always covered Which of the following expenses would not be covered in a basic group health plan dr. charges for office visits Which of the following plans are sued to provide retirement benefits specifically for the self-employed Keogh plans Suppose you have a 401k plan.if you draw all of the money out and close the account you will have to pay income taxes, plus a tax penalty on the money you draw out What does ERISA stand for EMPLOYEE retirement income security act Which of the following statements about IRAs is false early withdrawal from an IRA causes a 20% tax penalty to be incurred A defined contribution retirement plan defines the amount of benefits to be contributed to the employee during retirement false The definition of disability for the purposes of meeting disability status under ss means inability to engage in any gainful employment due to a work related accident, and that inability must be expected to last for a continuous period of not less than 12 mo. Ss is financed by a tax on employees and employers Each of the following are ss benefits except unemployment benefits To receive retirement benefits one must fully insured and of retirement age Which of the following benefits is not provided under the ss program welfare payments to poor people To have one quarter of credit under the ss program you must have earned a certain amount of covered income When does the black out period occur b/t the time survivor benefits end and the time retirement benefits begin Self employed people must participate in the ss program false After 40 quarters in covered employment a person achieves fully insd. true The major legal change established by passage of workers comp laws was to substitute the employers liability w/o fault for the common law doctrine of negligence Which one of the following is not a req. for receiving unemployment nation unemployment % must exceed a certain level Workers comp. is likely to cover all of the following expect 100% of lost wages during disability Which of the following do not influence eligibility and amount of unemployment benefits types of work performed Which of the following was a common law defense used by employers prior to the enactment of workers comp laws contributory negligence Experience rating rewards employer w/ good safety records true Workers comp ins. covers both job related injuries and occupational diseases true Major med. Ins. has relatively large deductibles true Disability income insurance generally requires an elimination of waiting period before benefits begin true Generally the justification from the employers point of view in the providing employee benefits is to attract retain and motivate true