Term
| children; spouse; dependent parents |
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Definition
| Eligible dependents under group insurance include the insured's _____________, __________, _______________, and anyone else upon which dependency can be proven. |
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Term
| coordination of benefits (COB) |
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Definition
| The __________ provision prevents the duplication of benefits and overinsurance. |
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Term
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Definition
| If a married couple both have group health coverage and each are named as dependents on the spouse's group plan, then the person's own group policy will be ________________ and the spouse's policy will be ______________. |
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Term
| gender rule; birthday rule |
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Definition
| 4. If children are named as dependents of both group plans, then either the ____________ or __________ will apply in deciding whose group plan is primary. |
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Term
| not deductible; tax free; can deduct; taxed |
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Definition
| With Disability Income policies, if the employee pays the premium the premium is ______________________ and the benefit is received ________________. If the employer pays the premium then he/she __________________ as an eligible business expense and the benefit is ________________ as received. |
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Term
| tax deductable; tax deductable; 7.5 |
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Definition
| Group Medical Expense, LTC, and MSP premiums that the employer pays as an employee benefit are _____________ for the employer. Any portion of the premium paid by the employee is _________________ to the extent that when added to all other unreimbursed medical expenses, the total exceeds ______% of the taxpayers adjusted gross income. |
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Term
| can not be deducted; tax free |
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Definition
| The Disability Buy-Sell and Key Employee disability policy premiums __________________ as an eligible business expense. However, the benefits are received _____________. |
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Term
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Definition
| The Business Overhead Expense policy premiums are ______________ as an eligible business expense; however, the benefits will be _________________________________ as received. |
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