Passed Exam Today C1

They require complex actuarial calculations and assumptions.

The benefit is based on a formula that considers pay and service.

They generally provide better benefits to employees with longer service.

The employee assumes the risk for the investments.   

The charges that an insurance carrier determines are normal for a particular medical procedure within a specific geographical area

The charges that are published annually in the Global Insurers' Medical Cost Comparison Guide

The charges that are allowable for any given medical procedure with no pre-treatment authorization

The charges that are typically paid up front by a plan participant for services rendered.   

The most senior leader with the highest level of authority

No one person. Identify your stakeholders and work to achieve consensus among the majority.

Influencers and decision-makers who have the respect of employees and are both proponents and opponents of your objectives

Individuals with power in the organization who have the authority to overrule the concerns of opponents

It is required by the Department of Labor

It is required in determining increase budgets

It determines what information and data sources will be used in the audit

It builds in a process of continuous improvement