Health Insurance 101
Small group health insurance is generally referring to companies with up to ____ full-time employees.
What is 50?
Name 3 types of Qualifying Life Events
What is change in marital status, birth/adoption or loss of prior coverage?
In order for Gusto to be the broker for the group, they must offer which type of coverage?
What is medical?
Name the four types of health insurance plans?
What is HMO, PPO, EPO, POS?
List the four metal tiers
What is Bronze, Silver, Gold & Platinum?
What is 30 days?
What is a payroll deduction is the amount withheld from an employee's payroll check and a premium is the amount to be paid for an insurance policy?
Describe the difference between internal and external benefits?
What is that internal benefits are managed through Gusto and external benefits are managed by the group?
This type of plan does not cover out of state employees
What is the HMO plan type?
These are the two ways a group can get started with benefits at Gusto
What is the Broker of Record Transfer process and the New Plans process?
Who are the players in the Small Group Health Insurance world?
Who is the employee, the employer, the broker, the provider and the carrier?
List 5 examples of a pre-tax benefit.
What is Medical, Dental, Vision, HSA, FSA, Short Term Disability, Long Term Disability, 401(k), SEP IRA, SARSEP, Simple IRA, 403(b), Commuter, HSA, FSA, DCFSA?
The type of life insurance that Gusto offers is ____
What is Basic Life Insurance?
After an employee leaves a company, Gusto will send Continuation related information ____ days after their dismissal date.
What is 3 days?
What are the types of Tax Advantaged Accounts Gusto supports?
What are Health Flexible Savings Account (Health FSA) Dependent Care Flexible Savings Account (DCFSA), Health Savings Account (HSA), and Commuter?
Describe how post-tax benefits work
What is that these benefit deductions are taken from an employee's paycheck after taxes have already been deducted? (Due to this they have no effect on the amount of taxes taken from that paycheck)
The five ancillary benefits that Gusto offers are _____
(excluding TAdAs)
What is Dental, Vision, Life, Short-term Disability, and Long-term Disability?
After a year goes by, the group will go through _____. This is where the employee can make changes to their benefits, including changing plans or adding dependents.
What is Renewal or Open Enrollement?
Which Gusto internal software will you find the benefit deduction breakdowns?
What is Hippo?
Describe the Affordable Care Act (ACA)
What is the ACA is a federal law that aims to make healthcare more affordable and accessible to Americans?