2015 - Adp - Enrollment Periods - Mv/Training
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- 1.
What does ICEP stand for?
- A.
Initial Conversion Election Period
- B.
Initial Coverage Election Period
- C.
Initial Coverage Enrollment Period
- D.
None of the above
Correct Answer
B. Initial Coverage Election PeriodExplanation
The correct answer is "Initial Coverage Election Period." The Initial Coverage Election Period refers to the period during which individuals can enroll in a Medicare Part D prescription drug plan or a Medicare Advantage plan with prescription drug coverage for the first time. This period typically occurs when individuals first become eligible for Medicare or during the annual Medicare Open Enrollment Period.Rate this question:
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- 2.
What plan types are available during ICEP?
- A.
Medicare Advantage with Prescription Drug Plan
- B.
Medicare Advantage Plan
- C.
Prescription Drug Plan
- D.
All of the above
Correct Answer
D. All of the aboveExplanation
During the Initial Coverage Election Period (ICEP), all three plan types are available. Medicare beneficiaries can choose from Medicare Advantage with Prescription Drug Plan, Medicare Advantage Plan, or Prescription Drug Plan. This means that individuals have the option to select a plan that best suits their healthcare needs and preferences during this enrollment period.Rate this question:
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- 3.
How long does ICEP last?
- A.
4 months before, the month of, and 2 months after 65th birthday
- B.
3 months before, the month of and, 3 months after 65th birthday
- C.
6 months before 65th birthday
- D.
None of the above
Correct Answer
B. 3 months before, the month of and, 3 months after 65th birthdayExplanation
The correct answer is 3 months before, the month of, and 3 months after the 65th birthday. ICEP stands for Initial Enrollment Period, which is the period when individuals can first enroll in Medicare. This period starts three months before the individual's 65th birthday, includes the month of their birthday, and lasts for three months after their birthday. This gives individuals a total of seven months to enroll in Medicare without facing any penalties.Rate this question:
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- 4.
What does SEP stand for?
- A.
Special Enforcement Personnel
- B.
Special Enrollment Period
- C.
Special Election Period
- D.
Savory Eggplant Parmesan
Correct Answer
C. Special Election PeriodExplanation
SEP stands for Special Election Period. This refers to a specific time period during which individuals can make changes to their health insurance coverage outside of the regular enrollment periods. This may occur due to certain qualifying events such as marriage, birth of a child, or loss of other health coverage. During the Special Election Period, individuals have the opportunity to enroll in or change their health insurance plans to better suit their needs.Rate this question:
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- 5.
When are we able to enroll a customer into a plan under SEP-LEC?
- A.
1 month before loss of coverage
- B.
63 days before loss of coverage
- C.
3 months before loss of coverage
- D.
Upon notification of the loss of coverage
Correct Answer
C. 3 months before loss of coverageExplanation
Customers are able to enroll in a plan under SEP-LEC three months before the loss of coverage. This allows them ample time to explore their options and make an informed decision about their healthcare coverage. By enrolling early, customers can ensure a smooth transition and avoid any gaps in coverage.Rate this question:
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- 6.
What plan types are available using SEP-LEC?
- A.
1876 Cost Plans
- B.
Medicare Advantage (MA/MAPD)
- C.
Medicare Part D (PDP)
- D.
All of the above
Correct Answer
D. All of the aboveExplanation
All of the above plan types are available using SEP-LEC. This means that individuals can choose from 1876 Cost Plans, Medicare Advantage (MA/MAPD) plans, and Medicare Part D (PDP) plans when using SEP-LEC.Rate this question:
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- 7.
LEC can be a voluntary loss of employer coverage.
- A.
True
- B.
False
Correct Answer
A. TrueExplanation
The statement is suggesting that LEC (Loss of Employer Coverage) can be voluntary, meaning that an individual can choose to give up their employer-provided health insurance. This implies that an individual may decide to opt out of their employer's coverage for various reasons, such as obtaining coverage from a different source or not needing insurance at that time. Therefore, the statement is true.Rate this question:
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- 8.
What is the most common SEP used at OneExchange?
- A.
ICEP (Age-in)
- B.
SEP-LTC
- C.
SEP-LEC
- D.
SEP-Move
Correct Answer
C. SEP-LECExplanation
SEP-LEC is the most common SEP used at OneExchange. This implies that OneExchange frequently utilizes the SEP-LEC option for their services.Rate this question:
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- 9.
In general, what determines the effective date for customers under an SEP-LEC?
- A.
The first of the month following the date of coverage loss as determined by the employer.
- B.
Whatever date the ADP picks
- C.
The date of notification that coverage has been lost
- D.
The date COBRA expires
Correct Answer
A. The first of the month following the date of coverage loss as determined by the employer.Explanation
The effective date for customers under an SEP-LEC is determined by the employer and is set as the first of the month following the date of coverage loss. This means that when a customer loses their coverage, the effective date for their new coverage will be the first day of the following month. The employer is responsible for determining this date based on when the coverage loss occurred.Rate this question:
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- 10.
When is AEP (Annual Enrollment Period)?
- A.
November 15 - December 15
- B.
January 1 – March 31
- C.
October 15 – December 7
- D.
None of the above
Correct Answer
C. October 15 – December 7Explanation
The correct answer is October 15 - December 7. This is the time period during which individuals can make changes to their Medicare coverage. It is known as the Annual Enrollment Period (AEP) and allows individuals to switch from Original Medicare to a Medicare Advantage Plan, or vice versa. They can also switch between different Medicare Advantage Plans or between different prescription drug plans. Outside of this period, individuals may only make changes to their coverage under certain special circumstances.Rate this question:
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Mar 20, 2023Quiz Edited by
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Jul 31, 2014Quiz Created by
Bthorup
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