Podcast
Questions and Answers
Which type of long-term care benefit would be most appropriate for a stroke victim who requires speech therapy administered at her home?
Which type of long-term care benefit would be most appropriate for a stroke victim who requires speech therapy administered at her home?
- Respite care
- Home health care (correct)
- Continuing care
- Custodial care
Which of these statements about Medicaid is CORRECT?
Which of these statements about Medicaid is CORRECT?
- Funded by federal, state, and local taxes (correct)
- Administered by the Federal government
- Pays for Medicare charges exceeding the approved amount
- Intended for senior citizens
Which of the following plans will cover medical costs that Medicare doesn't cover?
Which of the following plans will cover medical costs that Medicare doesn't cover?
- Medical
- Major medical
- Indemnity
- Medicare supplement (correct)
Respite care is able to provide
Respite care is able to provide
Continuous 24-hour care provided by licensed medical professionals under the direct supervision of a physician is called
Continuous 24-hour care provided by licensed medical professionals under the direct supervision of a physician is called
Which of the following provides Medicare supplement policies?
Which of the following provides Medicare supplement policies?
Which of the following is NOT included under long-term care insurance?
Which of the following is NOT included under long-term care insurance?
Tom has a home health care benefit and is confined to his home. Which of these benefits is NOT typically covered?
Tom has a home health care benefit and is confined to his home. Which of these benefits is NOT typically covered?
All of these statements concerning Medicare are true EXCEPT
All of these statements concerning Medicare are true EXCEPT
Shirley has a Medigap policy, which is designed to pay costs associated with
Shirley has a Medigap policy, which is designed to pay costs associated with
The open enrollment period for Medicare Supplements begins at age
The open enrollment period for Medicare Supplements begins at age
What portion does an insured pay for covered expenses under Medicare Part B after the deductible?
What portion does an insured pay for covered expenses under Medicare Part B after the deductible?
Which of the following statements is TRUE about Medicaid?
Which of the following statements is TRUE about Medicaid?
A Medicare Supplement Policy is
A Medicare Supplement Policy is
The purpose of Medicare Supplement Insurance is to address gaps in Medicare coverage, which can include
The purpose of Medicare Supplement Insurance is to address gaps in Medicare coverage, which can include
Which of these gaps in Medicare coverage is addressed with Medicare Supplemental Insurance?
Which of these gaps in Medicare coverage is addressed with Medicare Supplemental Insurance?
Which of the following are two examples of activities of daily living (ADLs) used in qualifying for long-term care benefits?
Which of the following are two examples of activities of daily living (ADLs) used in qualifying for long-term care benefits?
Under a long-term care insurance policy, adult day care coverage will provide for
Under a long-term care insurance policy, adult day care coverage will provide for
The IRS states that a taxpayer's medical expenses that exceed 7.5% of their adjusted gross income are tax-deductible. Which of the following may be considered a medical expense under this rule?
The IRS states that a taxpayer's medical expenses that exceed 7.5% of their adjusted gross income are tax-deductible. Which of the following may be considered a medical expense under this rule?
Long-Term Care policies may provide coverage for claims arising from
Long-Term Care policies may provide coverage for claims arising from
Premiums paid that exceed 7.5% of an insured's Adjusted Gross Income (AGI) are tax-deductible when paid for which of the following plans?
Premiums paid that exceed 7.5% of an insured's Adjusted Gross Income (AGI) are tax-deductible when paid for which of the following plans?
A long-term care policy typically provides all of the following levels of care EXCEPT
A long-term care policy typically provides all of the following levels of care EXCEPT
Bill requires some nursing care and supervision but NOT full-time care. Which of these nursing home options would best serve him?
Bill requires some nursing care and supervision but NOT full-time care. Which of these nursing home options would best serve him?
Which of the following would be considered an activity of daily living under a long-term care policy?
Which of the following would be considered an activity of daily living under a long-term care policy?
Which type of plan would be most appropriate for an individual on Medicare who is concerned that Medicare will NOT pay for charges exceeding the approved amount?
Which type of plan would be most appropriate for an individual on Medicare who is concerned that Medicare will NOT pay for charges exceeding the approved amount?
A Medicare Supplement policy must NOT contain benefits which
A Medicare Supplement policy must NOT contain benefits which
Which of the following nursing home options would BEST suit an individual who needs some nursing care and supervision but NOT full-time care?
Which of the following nursing home options would BEST suit an individual who needs some nursing care and supervision but NOT full-time care?
Which of the following does Medicare Part D cover?
Which of the following does Medicare Part D cover?
A Medicare Supplement basic benefit is
A Medicare Supplement basic benefit is
Rating an individual's need for long-term care benefits can be measured by
Rating an individual's need for long-term care benefits can be measured by
The typical long-term care insurance policy is designed to provide a minimum of __ year(s) of coverage.
The typical long-term care insurance policy is designed to provide a minimum of __ year(s) of coverage.
Which of these factors is NOT taken into consideration when determining the cost of a long-term care policy?
Which of these factors is NOT taken into consideration when determining the cost of a long-term care policy?
Generally speaking, which three levels of care are Long-Term Care policies provided with?
Generally speaking, which three levels of care are Long-Term Care policies provided with?
Benefits provided by a Medicare Supplement policy must NOT
Benefits provided by a Medicare Supplement policy must NOT
All _____ policies must be guaranteed renewable.
All _____ policies must be guaranteed renewable.
A Medicare supplement plan can be canceled by the insurer
A Medicare supplement plan can be canceled by the insurer
In a Long-Term Care policy, activities of daily living (ADLs) can be each of the following EXCEPT
In a Long-Term Care policy, activities of daily living (ADLs) can be each of the following EXCEPT
Someone needing custodial care at home would require which type of coverage?
Someone needing custodial care at home would require which type of coverage?
Which situation would qualify an individual for receiving benefits from a qualified long-term care policy?
Which situation would qualify an individual for receiving benefits from a qualified long-term care policy?
Joe is a Medicare participant who receives his benefits through a Managed Health Care Plan. Which Medicare plan does he have?
Joe is a Medicare participant who receives his benefits through a Managed Health Care Plan. Which Medicare plan does he have?
Periodic increases in policy benefits are allowed in which long-term care policy provision?
Periodic increases in policy benefits are allowed in which long-term care policy provision?
The difference between a Long Term Care Partnership Plan and a Non-Partnership Plan is which of the following?
The difference between a Long Term Care Partnership Plan and a Non-Partnership Plan is which of the following?
What type of coverage pays a benefit for part-time nursing care that can be provided in a patient's home?
What type of coverage pays a benefit for part-time nursing care that can be provided in a patient's home?
Which of the following is NOT a type of Medicare Advantage Plan?
Which of the following is NOT a type of Medicare Advantage Plan?
Study Notes
Long-Term Care Benefits
- Home health care is ideal for stroke victims needing therapy at home.
- Respite care provides temporary relief to primary caregivers.
- Skilled nursing care entails continuous 24-hour care under physician supervision.
- Activities of daily living (ADLs) like eating and dressing are indicators for qualifying for long-term care benefits.
Medicaid and Medicare
- Medicaid is funded by federal, state, and local taxes, designed for low-income individuals, including seniors.
- Medicare covers certain healthcare services but gaps can be filled with Medicare supplement plans.
- Medicare Part D specifically covers prescription drugs.
- Long-term care insurance typically does not cover hospital acute care.
Medicare Supplement Policies
- Medigap policies help pay for costs associated with Medicare Parts A and B.
- Core benefits of Medicare Supplement Plan A include coinsurance payments and first three pints of blood received.
- Supplements must not duplicate Medicare benefits or provide additional premiums for coverage already included under Medicare.
Types of Care and Insurance
- Long-term care policies typically cover skilled, intermediate, and custodial care.
- Assisted living facilities are suitable for individuals needing nursing care but not full-time services.
- Long-term care policies can also cover conditions like senile dementia.
Tax Deductions and Enrollment
- Long-term care insurance premiums exceeding 7.5% of adjusted gross income (AGI) are tax-deductible.
- The open enrollment period for Medicare Supplements begins at age 65.
Nursing Home Options and Benefits
- Assisted living facilities cater to those needing some nursing care without full-time supervision.
- Long-term care assistance is essential for individuals requiring custodial care at home and may cover various services based on need.
Important Considerations
- Medicare Advantage plans provide additional coverage through managed care, categorized as Part C.
- Periodic policy benefits may include inflation protection, ensuring coverage keeps pace with growing costs.
- Guaranteed renewable policies are crucial in long-term care to maintain coverage regardless of health changes.
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Description
This quiz covers essential information regarding long-term care benefits and the distinctions between Medicaid and Medicare. It also discusses Medicare supplement policies and the additional coverage they provide for individuals, particularly seniors. Assess your understanding of these crucial healthcare topics.
