Tracy Had Continuous Group Health Insurance Coverage at Her Previous

question 41

Multiple Choice

Tracy had continuous group health insurance coverage at her previous employer for 6 years.Tracy decided to change jobs.Under federal law,if Tracy changes jobs,the new employer or group health plan must give her credit for previous and continuous health insurance coverage.This characteristic is called

• A)renewability.
• B)vesting.
• C)portability.
• D)convertibility.

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Definitions:

Profit-maximizing

Profit-maximizing refers to a strategic approach by businesses to adjust their production and pricing to achieve the highest possible profit.

Perfectly Competitive Firm

A hypothetical business in a market where no single company can influence the market price or product quality, leading to an efficient allocation of resources.

Short Run

A period in economics during which at least one factor of production is fixed, limiting the ability to increase production in response to increased demand.

Profitable

A financial status where the income generated from business activities exceeds the expenses, taxes, and costs associated with maintaining the business.