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The Affordable Care Act includes a provision designed to help small employers make health insurance coverage available to their employees. This provision allows small employers to reduce their federal income tax by a percentage of the employer’s contribution to health insurance for employees. This subsidy, in the form of reduction of income taxes, is called a

Which of the following statements about eligibility requirements for qualified Health Savings Accounts (HSAs) is (are) true?I.Only individuals who are eligible for Medicare benefits can establish a qualified HSA. II.Applicants must be covered by a high deductible health plan and not be covered by any other comprehensive health plan to establish a qualified HSA.

Because of the Affordable Care Act, all new medical expense plans that offer individual and group coverage must accept all individuals and employers in the state who apply for coverage. These insurers are required to continue to renew the coverage at the option of the individual or plan sponsor. Thus, under the Affordable Care Act, the renewal provision is

All of the following statements about current assumption whole life insurance are true EXCEPT

Ken purchased a PAP with liability limits of 100/300/50, medical payments coverage, and collision coverage. Ken fell asleep while driving late at night. He crossed the center line and hit a car approaching from the other direction. The following losses occurred.The driver of the other car suffered $30,000 in bodily injuries.Ken’s car sustained $5,000 in damages.Ken incurred $5,000 in medical expenses.The car that Ken hit was a total loss.Which of Ken’s Personal Auto Policy (PAP) coverages will cover the damage to the car that Ken hit?

Sarah purchased a Personal Auto Policy with liability limits of 50/100/25. Sarah ran a stop sign and hit a van. The van sustained $15,000 in damages. The following bodily injuries were suffered by passengers in the van: Passenger #1, $15,000; Passenger #2, $60,000; and Passenger #3, $10,000. Sarah sustained $5,000 in medical expenses, and Sarah’s car sustained $10,000 in damages. How much will Sarah’s insurer pay under Part A: Liability Coverage?

Which of the following is a cost/expense that an estate clearance fund is designed to pay?

If the value of a vehicle is increased after repairs, such as repainting an entire auto when only one fender or door is damaged, the insurer will not pay for the increase in value. Another name for the increase in value is

All of the following statements describe the flexibility available to the owner of a universal life insurance policy EXCEPT

Which statement is true regarding the advanced premium tax credits for individuals and families under the Affordable Care Act?