All of the Following Are Part of the "Regulation of Health

question 3

Multiple Choice

All of the following are part of the "regulation of health insurance" provision of the Patient Protection and Affordable Care Act (PPACA) except

• A) individuals with pre-existing medical conditions will be able to acquire health insurance.
• B) all policies must provide coverage for dependant children up to age 26.
• C) lifetime dollar maximums on coverage will be prohibited.
• D) limits on the size of deductibles and on waiting periods before coverage takes effect will be eliminated.

---

Definitions:

Accounting Records

The documentation of all the financial transactions and positions of a business, kept for the purpose of financial reporting and auditing.

Cash Basis

An accounting method where revenues and expenses are recognized only when cash is received or paid out.

Incurred Expenses

Costs that have been recognized or consumed in the operations of a business, regardless of the payment status.

Net Income

The total profit or loss of a company after deducting all expenses, taxes, and costs from total revenue.