Classify Each of the Following Statements

question 2

Multiple Choice

Classify each of the following statements.
-Homer purchases a U.S. savings bond listing title as: "Homer, payable to Bernice upon Homer's death." Bernice is Homer's sister. Homer dies four years later, and Bernice cashes in the bond and keeps the proceeds.

• A)No taxable transfer occurs.
• B)Gift tax applies.
• C)Estate tax applies.

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Definitions:

Carrier

(1) Associated with diseases inherited; (2) One who carries, transports; with insurance, it’s the company that provides the policy.

Approved Medical Bill

A health care invoice that has been processed and confirmed for payment by an insurance company or health plan.

Utilization Management (Review)

A process used in healthcare to optimize the use of resources and ensure that treatments provided to patients are appropriate, necessary, and efficient.

Managed Care

A health care delivery system designed to manage cost, utilization, and quality of health services.