ACA Quiz On Counselling!

10 Questions | Total Attempts: 127

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ACA Quiz On Counselling!

ACA means affordable care act and one of their primary goal is to make health insurance available to more people. Looking at them this way is cool so now lets answer some questions to see how we know them and how we can get to know them very well


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Questions and Answers
  • 1. 
    Which of the following is true about Medical Care Flexible Spending Account contributions in 2013?
    • A. 

      Contributions are limited to $2,500 per employee.

    • B. 

      Contributions are limited to $2,500 per family.

    • C. 

      Contributions are limited to $5,000 per family

    • D. 

      The Affordable Care Act does not effect FSA contributions.

  • 2. 
    Under which of the following principles did the United States Supreme Court support the constitutionality of the Affordable Care Act?
    • A. 

      Congress' authority to mandate the purchase of health insurance

    • B. 

      The Commerce Clause

    • C. 

      The First Amendment

    • D. 

      Congress' authority to levy taxes

  • 3. 
    Supporters of the ACA state health insurance rates for people will be less with the premium assistance tax credits. What is expected to happen with the individual health insurance rates for people who do not qualify for tax credits?
    • A. 

      Premiums will increase by 75% or more.

    • B. 

      Premiums will go down, but not as much as for those who get premium assistance.

    • C. 

      Premiums will increase 5% to 10%

    • D. 

      Premiums will increase between 25% and 50%

  • 4. 
    The Marshall family has a combined income that places them at 39% of the federal poverty level. Based on their family size and income, they receive $10,290 in premium assistance tax credits. At the end ifn the year, the Mrs. Marshall received a bonus that pushed their annual income over 400% of the poverty level. When they file their tax return in April of the following year, what does the ACA require happen with their premium assistance?
    • A. 

      Because they have a family policy, they have to repay $600.

    • B. 

      Because they file taxes with three personal exemptions, they have to repay $2,500 or reduce their subsidy in a future year.

    • C. 

      Because they earned more than 400% of the poverty level, they must pay the IRS the entire $10,290 as additional tax.

    • D. 

      No financial impact, because the year in which the credits were used is over.

  • 5. 
    Which of the following employers must comply with the ACA's new requirement for reporting the value of health benefits on an employee's W-2?
    • A. 

      No one; this requirement was repealed

    • B. 

      All businesses regardless of size

    • C. 

      Companies with 100 or more employees

    • D. 

      Employers required to file 250 or more W-2's

  • 6. 
    How long can young people stay on their parents' insurance plans under the Affordable Care Act?
    • A. 

      Until they turn 25

    • B. 

      Until they turn 26

    • C. 

      Until they turn 27

    • D. 

      Until they turn 28

  • 7. 
    The new legislation includes a mandate that all citizens carry insurance. What's the penalty for an individual who doesn't have health insurance in 2016?
    • A. 

      $350

    • B. 

      $695

    • C. 

      $1,000

    • D. 

      $1,200

  • 8. 
    Who will be eligible for a credit or a subsidy to buy health insurance in the exchanges?
    • A. 

      Individuals and families with incomes up to three times that of the federal poverty level.

    • B. 

      Individuals and families with incomes up to four times that of the federal poverty level.

    • C. 

      Individuals and families with incomes up to five times that of the federal poverty level.

    • D. 

      None of the above

  • 9. 
    Which of the following will not be used to fund the new legislation?
    • A. 

      Higher fees for preventive services

    • B. 

      A tax on indoor tanning services

    • C. 

      Cuts to Medicare Advantage

    • D. 

      None

  • 10. 
    The Matis family consists of Kyle, Mary, and their children, 22 year old Amy and 25 year old Chris. If they buy health insurance for all four members of the family from a state health insurance exchange, how many family members are counted toward their premium subsidy?
    • A. 

      None, a four person family will not qualify for a premium subsidy

    • B. 

      All four

    • C. 

      Three

    • D. 

      It depends on how many are claimed for personal exemption on the family's tax return.