1. Criteria to use when choosing a health insurance plan
Choosing the type of health insurance coverage that is best for you involves: Determining your needs Deciding how much you can afford to pay Determining what risks you can assume Assessing your preference for a particular plan's approach to health care As you complete the following scenario statements using the dropdown menus, consider the different issues for future use in determining your own needs. So Many Options, So Many Types of Plans Ginny, who just accepted employment with a firm that offers a cafeteria-style benefit plan, has called you for advice and answers to questions about consumer directed health plans benefit plans. Which of the following statements regarding cafeteria benefit plans is correct? Check all that apply. In offering these plans, employers generally establish a dollar limit that they allocate for spending by each worker on his or her selected benefits. O Cafeteria plans cannot be expanded to include additional benefits-even if the employee is willing to pay their additional cost. The benefits frequently offered through flexible benefit plans include several types of health, life, and disability insurance. Consumer-directed benefit plans can include accounts that exhibit differences in their tax status, portability in the event you leave your job), and benefit carryover from year-to-year. To better compare the differences between health reimbursement accounts (HRAs), health savings accounts (HSAs), and flexible savings accounts (FSAs), complete the following table by indicating the attributes of each type of account. Check all that apply. FSA HRA HSA Characteristic Unspent account balances can be carried over from year to year O 0 0 Account balances are funded only by the employer If you leave your employer, the funds remain with the employer. An employee pays taxes on account balances 0 O 0 0 0 Choosing the type of health insurance coverage that is best for you involves: Determining your needs Deciding how much you can afford to pay Determining what risks you can assume Assessing your preference for a particular plan's approach to health care As you complete the following scenario statements using the dropdown menus, consider the different issues for future use in determining your own needs. So Many Options, So Many Types of Plans Ginny, who just accepted employment with a firm that offers a cafeteria-style benefit plan, has called you for advice and answers to questions about consumer directed health plans benefit plans. Which of the following statements regarding cafeteria benefit plans is correct? Check all that apply. In offering these plans, employers generally establish a dollar limit that they allocate for spending by each worker on his or her selected benefits. O Cafeteria plans cannot be expanded to include additional benefits-even if the employee is willing to pay their additional cost. The benefits frequently offered through flexible benefit plans include several types of health, life, and disability insurance. Consumer-directed benefit plans can include accounts that exhibit differences in their tax status, portability in the event you leave your job), and benefit carryover from year-to-year. To better compare the differences between health reimbursement accounts (HRAs), health savings accounts (HSAs), and flexible savings accounts (FSAs), complete the following table by indicating the attributes of each type of account. Check all that apply. FSA HRA HSA Characteristic Unspent account balances can be carried over from year to year O 0 0 Account balances are funded only by the employer If you leave your employer, the funds remain with the employer. An employee pays taxes on account balances 0 O 0 0 0
