Innovative Insurance Quiz

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Questions and Answers

If payroll deductions are not set up properly, what consequence could occur according to the text?

  • The employee has to pay the whole premium.
  • The employee is not charged for their portion of premiums. (correct)
  • The employer deducts extra money from the employee's paycheck.
  • The employer pays less than intended.

In benefits discussions, if the question of employee or employer contributions arises, what is it referring to according to the text?

  • Healthcare premium payments (correct)
  • Employee work hours
  • Training program enrollments
  • Cost of company events

What happens when an employee is no longer benefits eligible, as mentioned in the text?

  • Their pay increases automatically.
  • They get 100% coverage of healthcare premiums.
  • They are offered better insurance options.
  • They must be removed from the benefits plan. (correct)

What is the potential outcome if an employer pays the whole premium unintentionally?

<p>The company's expenses increase. (B)</p> Signup and view all the answers

Why do some companies set up payroll deductions for employees, as mentioned in the text?

<p>To reimburse the company for healthcare premiums paid. (B)</p> Signup and view all the answers

What happens to the employer's contribution towards health premiums if an employee elects COBRA?

<p>It becomes the employee's responsibility (B)</p> Signup and view all the answers

Why might former employees choose alternatives to COBRA for health insurance coverage?

<p>To avoid paying the full premium (C)</p> Signup and view all the answers

What must a plan member do if they wish to continue benefits via COBRA after employment ends?

<p>Submit a COBRA enrollment form and premium payments (C)</p> Signup and view all the answers

How does the employee's responsibility for health premiums change if they elect COBRA?

<p>The employee pays a higher premium than before (A)</p> Signup and view all the answers

What does the new premium amount for an employee electing COBRA include?

<p>The employee's portion + employer's contribution (A)</p> Signup and view all the answers

Why might an individual elect COBRA over joining a spouse's insurance plan?

<p>To maintain existing benefits (D)</p> Signup and view all the answers

What does the text emphasize as one of the biggest pain points for companies?

<p>Difficulty in accessing insurance broker support (D)</p> Signup and view all the answers

How does the company detect losses of eligibility due to status changes?

<p>By monitoring status changes using proprietary technology (D)</p> Signup and view all the answers

What is one way the company stands out in terms of rates according to the text?

<p>Saving clients 20-30% on their premiums (A)</p> Signup and view all the answers

Why does the text suggest clients should consider shopping their rates with the company?

<p>To explore potentially saving money (D)</p> Signup and view all the answers

What does the company consult carefully with clients about, according to the text?

<p>Learning about their employee demographic and business needs (B)</p> Signup and view all the answers

Which technology does the company use to detect terminations due to status changes?

<p>Proprietary technology (A)</p> Signup and view all the answers

What does the Ease platform offer employers and employees?

<p>Convenient administration of benefits (B)</p> Signup and view all the answers

How does the proactive enrollment follow-up help during open enrollment?

<p>Eliminates the need for HR to track down individual employees (A)</p> Signup and view all the answers

What is the purpose of automatic payroll deductions mentioned in the text?

<p>To deduct health insurance premiums from paychecks (B)</p> Signup and view all the answers

How does the text describe the experience of using the benefits administration platform?

<p>Eliminates the need for physical paperwork and is user-friendly (B)</p> Signup and view all the answers

In what scenario would HR need to chase down individual employees according to the text?

<p>When employees fail to login to elect or waive benefits (A)</p> Signup and view all the answers

What is one way premium deductions are made easy for clients?

<p>Fully integrating with ADP for payroll deductions (B)</p> Signup and view all the answers

What does Ease do if an employee elects benefits?

<p>Automatically inform the carrier of the employee's enrollment (D)</p> Signup and view all the answers

In the case of a payroll system that doesn't integrate with Ease, what action is taken for premium deductions?

<p>Send a deduction report to the employer (C)</p> Signup and view all the answers

How does Ease handle part-time vs. full-time status changes of employees?

<p>Monitor changes and adjust benefits offerings accordingly (A)</p> Signup and view all the answers

What does Ease do to ensure benefits offerings are always current with new-hires and terminations?

<p>Update benefits offerings based on new-hires and terminations (A)</p> Signup and view all the answers

What payroll systems does Ease integrate with?

<p>ADP and Paycom (C)</p> Signup and view all the answers

During the sales cycle, what information is helpful for Ease to have about COBRA?

<p>A lead's questions about COBRA (C)</p> Signup and view all the answers

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