Module 11

Question 1

An employer can deduct premiums paid for accident and health insurance and long-term care plans covering its employees.

Answer 1

IRC Section 162

Question 2

This states an employee does not have to include the cost of any employer- provided coverage under an accident or health plan in gross income.

Answer 2

IRC Section 106(a)

Question 3

This looks at relative incidence (number and duration) of a condition.

Answer 3

Morbidity

Question 4

This looks at life expectancy.

Answer 4

Mortality

Question 5

The ability to take a group plan with you at a certain rate if you leave your employer.

Answer 5

Portability of coverage

Question 6

Coverage to help meet both the medical and non-medical needs of people with chronic illnesses or injury who cannot care for themselves for long periods of time.

Answer 6

Long-term care (LTC)

Question 7

Eating, bathing, dressing and grooming, toileting, transferring (walking), and continence.

Answer 7

The six basic activities of daily living (ADL)

Question 8

Managing self-care tasks including finances, transportation, meal preparation, home maintenance, and using medications as directed.

Answer 8

Instrumental Activities of Daily Living (IADLs)

Question 9

The Pension Protection Act enables 1035 exchanges of existing annuity products to qualified LTC policies without any adverse tax consequences.

Answer 9

Section 1035 exchanges

Question 10

The primary sales channel for LTC insurance policies to consumers.

Answer 10

Voluntary worksite markets

Question 11

An example of a combination policy where an LTC feature is added to a life insurance policy.

Answer 11

Hybrid life with a long-term care rider (life+LTC) products

Question 12

A prescriptive solution to potential fraud from informal home care involving GPS technology to pinpoint when a caregiver arrives and leaves a specific location.

Answer 12

Electronic visit verification (EVV)

Question 13

As the LTC industry evolves, it will use data to develop predictive models to forecast which customers will have an LTCI need. Health and wellness outreach programs can be tailored to help prevent financially catastrophic, facility based LTCI claims.

Answer 13

Inforce strategy

Question 14

This can forestall or prevent substantial LTC events. Some solutions are fall detection, enhanced communication to mitigate social isolation, and using wearables to monitor vital signs.

Answer 14

Preventive support

Question 15

Using robotics or devices to aid people who have lost some motor skills.

Answer 15

Innovative physical assistance

Question 16

Which of the following is a type of “chronic” care services that “is a set of health, personal care, and social services delivered over a sustained period of time to persons who have lost or never acquired some degree of functional capactity”?

A. Acute care
B. Long-term care
C. Intermediate care
D. Respite care

Answer 16

B. Long-term care

Question 17

All of the following are activities of daily living (ADLs), EXCEPT:

A. Cooking
B. Dressing
C. Bathing
D. Toileting

Answer 17

A. Cooking

Question 18

The vast majority of long-term care services are met by ____________ and ___________ provides the majority of funding for LTC services.

A. Family members on an unpaid basis; the federal government, primarily through Medicaid and Medicare,

B. Family members on a paid basis; the federal government, primarily through Medicaid and Medicare,

C. Adult care centers, nursing homes, and assisted living facilities; direct out-of-pocket spending

D. Family members on an unpaid basis; LTC insurance

Answer 18

A. Family members on an unpaid basis; the federal government, primarily through Medicaid and Medicare,

Question 19

Which of the following is the main reason that individuals forgo long-term care insurance?

A. The cost of insurance premiums

B. Individuals believe they won’t become disabled.

C. Individuals believe family members will provide unpaid care.

D. With waiting periods and limitations, individuals believe they’ll never receive any benefits at all.

Answer 19

A. The cost of insurance premiums

Question 20

Which of the following extended long-term care insurance a variety of tax incentives?

A. HIPPA of 1996
B. Medicare and Medicaid reform
C. Title XVIII of the Social Security Act
D. The CLASS act

Answer 20

A. HIPPA of 1996

Question 21

All of the following are advanced technology solutions being implemented to combat fraud, waste, and abuse in the LTC insurance market, EXCEPT:

A. Electronic visit verification (EVV) for informal home care

B. Inforce management strategy

C. Unsupervised learning

D. Advanced data analytics and predictive models

Answer 21

B. Inforce management strategy

Question 22

Which of the following capabilities will characterize the LTC insurer of the future?

i. Fueld by data
ii. Human-centered phygital experiences
iii. Designed for safeguarding innovation
iv. Made possible with incremental technologies

A. i and ii
B. i, ii, and iii
C. All of the above
D. i only

Answer 22

A. i and ii