Author Question: Prior to passage of the Affordable Care Act, insurers could go back to the date a health insurance ... (Read 51 times)

lindiwe · **on:** Jul 11, 2018

Prior to passage of the Affordable Care Act, insurers could go back to the date a health insurance policy became effective and render the policy void due to a clerical error.

This practice, which is prohibited under the Affordable Care Act except in cases of fraud or intentional misrepresentation of a material fact, is called
A) estoppel.
B) retention.
C) rescission.
D) reformation.

Question 2

Under the Affordable Care Act, if a health insurer does not meet the minimum loss ratio requirement, the insurer must

A) pay a fine to the federal government.
B) issue rebates to the people the insurer covered.
C) not sell any health insurance for a period of one year.
D) reduce the premium on the policies it sells the following year.