Health Reimbursment Arrangement (HRA) And Auto-reimbursement Quiz
(173).webp "Health Reimbursment Arrangement (HRA) And Auto-reimbursement Quiz - Quiz")
- 1.
Which of the following is true about a Health Reimbursement Account?
- A.
Reimbursement for medical expenses.
- B.
Is an IRS approved, tax favored benefit (Tax-free)
- C.
Is used for Insurance premiums and other qualified health care expenses.
- D.
The funds are typically deposited into an account with a Third Party Administrator.
- E.
None of the above.
- F.
All of the above.
Correct Answer
F. All of the above.Explanation
A Health Reimbursement Account (HRA) is a type of benefit that provides reimbursement for medical expenses. It is also an IRS approved, tax-favored benefit, meaning that the funds used for reimbursement are tax-free. HRAs can be used for various purposes, including paying for insurance premiums and other qualified health care expenses. Typically, the funds for an HRA are deposited into an account that is managed by a Third Party Administrator. Therefore, all of the statements provided in the options are true about a Health Reimbursement Account.Rate this question:
-
- 2.
"Client expectations for having an HRA vary, but can include requiring the customer to enroll in Medical and/or Rx through OneExchange, enrolling in dental and/or vision through OneExchange, or simply requiring the customer to call and opt in. True or False:"
- A.
True
- B.
False
Correct Answer
A. TrueExplanation
The statement is explaining that client expectations for having an HRA (Health Reimbursement Arrangement) can vary. These expectations may include requiring the customer to enroll in Medical and/or Rx through OneExchange, enrolling in dental and/or vision through OneExchange, or simply requiring the customer to call and opt in. In other words, the client may have different requirements for the customer to participate in the HRA program. Therefore, the statement is true.Rate this question:
-
- 3.
How does a customer send a claim to the funding department?
- A.
Via FedEx for speedy delivery.
- B.
Online, fax, or mail.
- C.
By phone.
- D.
All of the above.
- E.
None of the above.
Correct Answer
B. Online, fax, or mail.Explanation
Customers can send a claim to the funding department through various methods, including online, fax, or mail. These options provide flexibility for customers to choose the most convenient and suitable way to submit their claims. Whether they prefer the ease of online submission, the traditional method of sending a fax, or the reliability of mailing, customers have multiple channels available to them for sending their claims to the funding department.Rate this question:
-
- 4.
"Depending on the client, what are the expenses that could be eligible for reimbursement?"
- A.
Coinsurance
- B.
Vision and Hearing
- C.
Rx Plan Premiums
- D.
Medicare Part B
- E.
Plan Premiums
- F.
Medical Copayments
- G.
Dental Premiums and Copays
- H.
All of the above.
- I.
None of the above.
Correct Answer
H. All of the above.Explanation
All of the expenses mentioned in the options could be eligible for reimbursement, depending on the client. This includes coinsurance, vision and hearing expenses, Rx plan premiums, Medicare Part B, plan premiums, medical copayments, dental premiums, and copays.Rate this question:
-
- 5.
"What are some reasons the client might establish an HRA for their participants?
- A.
No Internal Administrators Are Needed.
- B.
Rising Health Care Costs.
- C.
Saves the Employer Money.
- D.
Gives A Defined Amount Allows for Calculating Future Costs.
- E.
All of the above.
- F.
None of the above.
Correct Answer
E. All of the above.Explanation
The client might establish an HRA for their participants for several reasons. Firstly, they might choose this option because no internal administrators are needed, which can save time and resources for the client. Secondly, rising healthcare costs can be a motivation for establishing an HRA, as it allows for better control and management of these expenses. Additionally, an HRA can save the employer money by providing a defined amount that can be used to calculate and plan for future healthcare costs. Therefore, all of the given reasons are valid explanations for why a client might establish an HRA for their participants.Rate this question:
-
- 6.
If the SSC shows funding as “Not Available” this might indicate?
- A.
That OneExchange does not have the funding information.
- B.
That the customer does not have Funding.
- C.
All of the above.
- D.
None of the above.
Correct Answer
C. All of the above.Explanation
Use caution when speaking to these clients to avoid providing incorrect information about their funding.Rate this question:
-
- 7.
The OneExchange associate must activate the Auto-Reimbursement for the customer by turning it? __________________
Correct Answer
onExplanation
The OneExchange associate must activate the Auto-Reimbursement for the customer by turning it on. This implies that there is a feature or setting called "Auto-Reimbursement" that needs to be enabled or activated for the customer. By turning it on, the associate allows the customer to automatically receive reimbursements for certain expenses or claims.Rate this question:
- 8.
Please choose the customer requirements for Auto-Reimbursement.
- A.
The customer must elect to participate in the service.
- B.
The customer must have funds in an HRA.
- C.
The plan must participate in Auto-reimbursement.
- D.
The customer must enroll in a plan using OneExchange.
- E.
The customer must pay monthly plan premiums via EFT or Direct Bill.
- F.
All of the above.
- G.
None of the above.
Correct Answer
F. All of the above.Explanation
The correct answer is "All of the above". This is because all the given statements are customer requirements for Auto-Reimbursement. The customer must elect to participate in the service, have funds in an HRA, the plan must participate in Auto-reimbursement, the customer must enroll in a plan using OneExchange, and the customer must pay monthly plan premiums via EFT or Direct Bill. Therefore, all of these requirements must be met for Auto-Reimbursement.Rate this question:
-
- 9.
The first Auto-Reimbursment payment can take from 3 days to 3 weeks after the effective date?
- A.
True
- B.
False
Correct Answer
B. FalseExplanation
It can take up to 3 billing cycles after the effective date.
If the effective date is January 1st.
The customer can expect the 1st Auto-reimbursment payment in April.Rate this question:
-
- 10.
Funding department packets are sent to the customer close to the plan's effective date?
- A.
True
- B.
False
Correct Answer
A. TrueExplanation
The Funding Department sends out their packets 2 weeks before the effective date. These packets include:
Information about the account.
Direct Deposit forms: the customer can set up direct deposit by mailing in the form, using the website or calling the Funding department
Manual Claim Form: They can make copies of this form. If they need a new one they will need to call the funding department. Each customer has their own claim forms with a code for their account. If couples have separate HRA’s they can not use each other’s forms to submit claims. We can not distribute claim forms – the customer must be transferred to the funding department to request a new one.
Recurring Claim Form: these allow customers to set up reimbursement for plan premiums if the carrier does not have automatic reimbursement available. Done one time each year for any or all premiums. Please see the client guide to make sure the form is allowed.
Funds are not available until the HRA is established. This is typically around the date the group plan ends.Rate this question:
-
- 11.
For eligible expenses OneExchange offers a service called Auto-Reimbursement (AR) to our clients/customers. This is unique to OneExchange."It allows the customer to be reimbursed for their monthly medical, prescription, and dental premiums by submitting a manual claim form" to "It allows the customer to be reimbursed for eligible expenses by submitting a manual claim form."
- A.
True
- B.
False
Correct Answer
B. FalseExplanation
Without submitting a manual claim form.Rate this question:
-
- 12.
The client guide in Share Point will help you find what information?
- A.
All 213d Eligible Expenses
- B.
Enrollment Information
- C.
Funding Information
- D.
All of the above.
- E.
None of the above.
Correct Answer
D. All of the above.Explanation
The client guide in Share Point will help you find all 213d eligible expenses, enrollment information, and funding information. This means that the guide is a comprehensive resource that covers all these topics, making it a valuable tool for users seeking information on any of these areas.Rate this question:
-
- 13.
To participate in Auto-Reimbursement, the customer must enroll in a health plan through?
- A.
Payflex
- B.
GE
- C.
OneExchange
- D.
AARP
Correct Answer
C. OneExchangeExplanation
To participate in Auto-Reimbursement, the customer must enroll in a health plan through OneExchange. This implies that OneExchange is the platform or provider that facilitates the enrollment process for customers who wish to participate in the Auto-Reimbursement program. It is likely that OneExchange has a partnership or integration with the Auto-Reimbursement system, making it the necessary channel for customers to access and enroll in the health plan that offers this feature.Rate this question:
-
- 14.
When do OPERS Benefit Recipients receive their HRA funding into their HRA account?
- A.
Annually
- B.
Monthly
- C.
Semiannually
- D.
Semimonthly
Correct Answer
B. MonthlyExplanation
OPERS Benefit Recipients receive their HRA funding into their HRA account on a monthly basis. This means that they receive their funding every month.Rate this question:
-
Quiz Review Timeline +
Our quizzes are rigorously reviewed, monitored and continuously updated by our expert board to maintain accuracy, relevance, and timeliness.
-
Current Version
-
Apr 18, 2024Quiz Edited by
ProProfs Editorial Team -
Jan 29, 2016Quiz Created by
Angie Nelson
Back to top