What is the death benefit of group term life whose cost is not considered taxable income to the employee?
100
A high-deductible health insurance plan, and no other health insurance plan.
What are the requirements for a person to have an HSA (Health Savings Account)?
100
The COBRA continuation requirement if the triggering event is employee termination, or status change from FT to PT.
What is 18 months?
100
Benefits received from this state-administered program are considered medical payments, so are not taxable income to the recipient.
What is worker's comp? (WA Dept of Labor and Industries)
100
The maximum exclusionary period for costs associated with a pre-exisiting condition per HIPAA.
What is 12 months?
200
$2,000
What is the death benefit under which cost of dependents' life is excluable from employee's income?
200
Yes or no: the cost of health insurance premiums are taxable income to a non-owner employee?
What is: No!
200
Long term care insurance premiums are deductible for employer, as well as by an individual (per 7.5% of AGI floor), but are specifically not allowed in what type of employer plan?
What is a cafeteria plan?
200
The State of Washington Employment Security Division administers this benefit, and benefits received are taxable income to the recipient, as they're considered compensation.
What are unemployment insurance benefits?
200
These 3 types of employers are exempt from COBRA requirements.
What are governments, and churches, and employers with less than 20 employees?
300
In this plan, the policies are underwritten on a group basis, often on a guaranteed issue basis, but consist of individual contracts, which are portable when EE terminates.
What is a group universal life insurance plan?
300
The maximum lookback period is 6 months, and the maximum exclusionary period is 12 months.
What are the pre-exisiting conditions rules set by HIPAA?
300
The risk employers run when offering an FSA.
What is having to fully reimburse EEs for incurred expenses, even if YTD deferred balances are insufficient?
300
The entire cost of group term life is taxable income to all employees when it is provided as part of this type of plan.
What is a qualified retirement plan?
300
S corp > 2% owners and partners.
What are the types of owner/employees who must recognize taxable income on cost of employer-provided group health insurance plans?
400
This type of group life plan removes executives from the group term coverage and provides them with discriminatory individual coverage.
What is a group carve-out plan?
400
The title of the landmark legislation that governs nearly every aspect of pension and welfare benefit plans.
What is ERISA?
400
The COBRA continuation requirement if the triggering event is death, divorce, EE ages out to Medicare or dependent ages out.
What is 36 months?
400
A group term life plan where key employees have to recognize taxable income on cost of all death benefits of group term life.
What is a discriminatory group term life plan?
400
Two examples of taxable fringe benefits.
What are: personal use of company car, employee discounts for HCEs only, country club dues, season tickets.
500
1. Coverage must provide a general benefit.
2. Coverage must be provided to all employees, or all members of a class of employees.
3. Insurance must be provided by a policy carried by the employer
4. Amount of insurance provided to each EE must be provided on a basis that precludes individual selection
What are the 4 requirements for group term life to be tax-favored?
500
These two types of owner/employees must report taxable income on employer-provided group health insurance premiums.
What are S corp > 2% owners, and partners.
500
The 3 expenses that are reimbursable by an FSA (Flexible Spending Arrangement.
What are out of pocket medical expenses, dependent care costs, and group insurance premiums: health, disability, or term life?
500
The cost of AD&D coverage with a death benefit up to $50,000 is excludable from taxable income for employees: Yes or No?
What is: No? To qualify for that exclusion, must be a general life insurance plan.
500
7.65% plus the employee's marginal income tax rate.
What are the potential tax savings for employees participating in an FSA?