• Healthcare Data Analyst Interview Questions
• Interview Questions For Healthcare Managers
• Healthcare Interview Questions And Answers
• Interview Questions For Business Analyst In Healthcare Assistant
• Questions For Analyst Interview

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This post is intended for those who are preparing for Business analyst interviews for insurance domain in IT industry.

In this post, I have added business analyst interview questions for insurance domain, to be specific, annuity insurance.

Please note that this list is not exhaustive & there are many more questions which can come but these will provide you a direction.

And I suggest you do some more research on these questions and add more information in your answers.

Also, these questions and answers are for Insurance BA interviews and if you are looking to buy an insurance product, please reach out to your adviser for information on these insurance terms.

As far as, interview questions for business analyst position are concerned, they can be divided into four parts;

• Domain specific questions like questions on business operations and processes. Domain are industries like insurance, banking, IT, healthcare, manufacturing, auto, retail or eCommerce.
• Business analysis specific questions like questions on requirement gathering, requirement prioritization, stakeholder manager, writing BRDs etc.
• Software development methodology specific questions. Scrum is the most popular software development methodology in the industry. So, there will be questions on sprints, user stories, product backlog, scrum roles, events etc.
• Generic or personal questions about your background or experience.

If you want to improve your odds of landing business analyst job, you need to also learn business analysis & scrum. You can enroll in the course using this link, click here.

This post is intended to help you with insurance domain's business analyst interview questions. If you are looking for business analyst and scrum related interview questions, click here.

So, you need to focus on all these elements to improve your chance of landing a job as business analyst.

Having certifications like CCBA, CBAP, CSPO or PSM1 will also help.

These questions are for Insurance business analysts and are specific to insurance BAs.

If you know any thing more about these questions or have additional questions, please leave them in comment.

What is revocable and irrevocable beneficiary?

Revocable beneficiary can be changed without beneficiary’s consent whereas with irrevocable beneficiary, you need beneficiary’s consent before you can change beneficiary.

What is GMIB?

GMIB stands for Guaranteed minimum income benefit.

Healthcare Data Analyst Interview Questions

It is a living benefit available with variable annuity. According to this, once a policy is annuitized, annuitant will receive payments worth a minimum value.

Let’s say annuitant invested $100,000 in a variable annuity plan. At the time of Annuitization, fund value is $500,000. Insurance company will pay minimum $500,000 worth of payments to the annuitant.

Interview Questions For Healthcare Managers

This benefit will remain constant irrespective of the market condition.

This gives option to annuitant to either;

• Select fund value for the benefit OR
• Value of initial payment compounded at a predetermined rate.

It is also known as Guaranteed Retirement Income Program (GRIP) & Guaranteed Interest account (GIA).

What is GMWB?

GMWB stands for Guaranteed minimum withdrawal benefit. It guarantees return of principal amount invested in the annuity. This amount could be higher than principal investment amount. Payments are mode over a fixed tenure or throughout the life of annuitant. Annuitization not required.

What is GMAB?

GMAB stands for guarantee minimum accumulation benefit. It guarantees that payments won’t fall below initial investment amount. But here the difference is that there is an accumulation phase in the policy. Like 10 years. There shouldn’t be any withdrawal in the accumulation period.

Healthcare Interview Questions And Answers

What is Qualified plan?

These plans are paid from pre-tax dollars and they are eligible are tax benefits. Traditional IRA, Roth IRA and SEP IRA are examples of qualified plan. In traditional IRA, contributions are eligible for tax benefits but not the withdrawal whereas in Roth IRA, contributions are not eligible for tax benefits, but withdrawals are.

What is Non-qualified plan?

Non-qualified plan is purchased from post-tax dollars and they are not eligible for tax benefits. Non-qualified plan is a contract type. IRAs are non-qualified plans.

What is RMD?

RMD or required minimum distribution is required for traditional IRA, sep IRA and simple IRA policies. Annuitants are required to have a minimum withdrawal from the policy by the age of 70 ½.

What is SEP IRA?

It stands for simplified employee pension plans is meant for small businesses. Only employers can contribute in SEP IRA.

What is SIMPLE IRA?

It is meant for business of any size. Employer and employee both can contribute to Simple IRA. Saving incentive match plan for employee.

What is Roll up rate?

Interview Questions For Business Analyst In Healthcare Assistant

It is annual rate of growth on the policy amount. Insurance company will increase the fund amount by a specified rate of interest.

What is Ratchet?

At contract anniversary, policy amount is reset to include the year’s gain where new amount becomes the base amount for going forward.

What is floor rate?

It is the agreed upon rate at which transaction happens.

What is Ceiling rate?

It is the maximum rate which can be applied throughout the term of the contract.

1. What is Healthcare?
2. What is Insurance? How does it differ with Healthcare?
3. Do I need Healthcare Insurance to get treated by a Doctor?
4. If I have insurance, who pays the doctor for performing services on me, the member?
5. Define Business Requirements? Does a Business Analyst need to know all about a specific Business Area?
6. What is difference between group and individual insurance? If you are working with Walmart, and you have insurance, which form is it?
7. What is a Premium? Who pays the Premium to whom and why?
8. Why is there an IT department in a Healthcare Company?
9. What is the difference between by PPO and POS? Why is HMO so easily affordable? How come the premiums are low?
10. What is a Provider? What are the two types of Providers? What Provider Networks do Healthcare Companies Leverage?
11. What is an Underwriter? What is the role of an Underwriter if a healthcare insurance company just got a contract with 1000 employees of BEST BUY?
12. Define HIPAA? What does HIPAA regulate and prevent?
13. Please provide a one liner introduction for the following Business Areas – Enrollment, Claims, Benefits Admin, Provider Systems Admin, Finance, Billing, and Dictionary Maintenance?
14. Compute Member Payment and Healthcare Insurance Payment for:

1. What is a Claim? What different entities can submit a Claim? What are the two types of Claim Intake Processes?
2. Please provide one liner about professional, facility, medicare and Medicaid claims?
3. Please provide basic understanding of a Claim Flow? What happens in a company like BCBS when a Claim arrives through EDI?
4. What is adjudication? What is Auto Adjudication? What is a High dollar Claim?
5. What are the two types of forms used by providers for paper based claims?
6. What is the job of a Clearing house? Who mandates EDI rules to be followed?
7. Briefly describe EDI 837, 835, 276 and 277
8. What is COB? What is primary and secondary insurer?
9. What is the ICD 9 – 10 Conversion? What is the basic understanding of these changes? Research about GEM – General Equivalence Mapping.
10. What is Medicare Fraud? Give an example of how a provider can commit fraud.
11. Research about HIPAA 5010 regulations. What does it specify Healthcare Companies do?

Questions For Analyst Interview

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