Free Federal Tax Considerations Practice Questions
North Dakota Accident & Health exam — 45 practice questions.
Subtopics: Employer health coverage, Group medical premiums, Medical benefits taxation, Individual DI benefits, Employer-paid DI benefits, Business overhead expense tax, Key person health premiums, Health Savings Account, Flexible Spending Account, Health Reimbursement Arrangement, Self-employed health deduction, HSA tax advantages, HSA nonqualified distribution, Medical expense itemized deduction, Archer Medical Savings Account, Premium-only plan, AD&D benefit taxation, Long-term care premium deduction, Critical illness benefit taxation, Individual health premium deductibility, Employer HSA contribution, Group medical, Group disability, Personal disability, Business disability, Sole proprietors, HSA, FSA, HRA, LTC tax, Medical expense deduction, Group AD&D, Dependent care, Premium tax credit, Small business credit
Read the Federal Tax Considerations study guide
Sample questions & answers
1. For federal income tax purposes, the value of employer-provided coverage under an accident or health plan is generally:
Excluded from the employee's income
26 U.S.C. 106(a) excludes employer-provided coverage under an accident or health plan from the employee's gross income.
2. Employer-paid premiums for group medical insurance are generally:
Deductible to employer, not taxable to employee
Employer contributions for group health are a deductible business expense and are not taxable income to employees.
3. Medical expense benefits an insured receives that reimburse covered health costs are generally:
Received income-tax-free
Benefits reimbursing medical expenses are generally received income-tax-free.
4. When an individual pays disability income premiums with after-tax dollars, the benefits received are:
Received income-tax-free
If the insured pays DI premiums with after-tax dollars, the disability benefits are received income-tax-free.
Practice: Federal Tax Considerations
Answer choices are shuffled every time, and every question comes with an explanation.
Practice questions are study aids generated for exam preparation and are not actual exam questions. Content is provided for educational purposes and is not legal advice. Verify current statutes, rules, and exam specifications with the Insurance Department and the exam administrator before relying on it.
