This quiz evaluates understanding of Health Reimbursement Arrangements (HRAs) and their auto-reimbursement mechanisms. Topics include eligibility, client expectations, reimbursement processes, and eligible expenses. Essential for professionals managing employee benefits.
True
False
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Payflex
GE
OneExchange
AARP
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True
False
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Reimbursement for medical expenses.
Is an IRS approved, tax favored benefit (Tax-free)
Is used for Insurance premiums and other qualified health care expenses.
The funds are typically deposited into an account with a Third Party Administrator.
None of the above.
All of the above.
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All 213d Eligible Expenses
Enrollment Information
Funding Information
All of the above.
None of the above.
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Coinsurance
Vision and Hearing
Rx Plan Premiums
Medicare Part B
Plan Premiums
Medical Copayments
Dental Premiums and Copays
All of the above.
None of the above.
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The customer must elect to participate in the service.
The customer must have funds in an HRA.
The plan must participate in Auto-reimbursement.
The customer must enroll in a plan using OneExchange.
The customer must pay monthly plan premiums via EFT or Direct Bill.
All of the above.
None of the above.
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True
False
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No Internal Administrators Are Needed.
Rising Health Care Costs.
Saves the Employer Money.
Gives A Defined Amount Allows for Calculating Future Costs.
All of the above.
None of the above.
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Annually
Monthly
Semiannually
Semimonthly
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That OneExchange does not have the funding information.
That the customer does not have Funding.
All of the above.
None of the above.
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Via FedEx for speedy delivery.
Online, fax, or mail.
By phone.
All of the above.
None of the above.
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True
False
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