Long-Term Care and Medicare Basics

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?

Respite care

Home health care (correct)

Continuing care

Custodial care

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?

Medical

Major medical

Indemnity

Medicare supplement (correct)

Respite care is able to provide

Temporary relief to the patient's primary caregiver Signup and view all the answers

Continuous 24-hour care provided by licensed medical professionals under the direct supervision of a physician is called

Skilled nursing care Signup and view all the answers

Which of the following provides Medicare supplement policies?

Private insurance companies Signup and view all the answers

Which of the following is NOT included under long-term care insurance?

Hospital acute care Signup and view all the answers

Tom has a home health care benefit and is confined to his home. Which of these benefits is NOT typically covered?

Full-time nursing care Signup and view all the answers

All of these statements concerning Medicare are true EXCEPT

Long-term care is covered by Medicare Part C Signup and view all the answers

Shirley has a Medigap policy, which is designed to pay costs associated with

Medicare Parts A and B Signup and view all the answers

The open enrollment period for Medicare Supplements begins at age

65 Signup and view all the answers

What portion does an insured pay for covered expenses under Medicare Part B after the deductible?

20% Signup and view all the answers

Which of the following statements is TRUE about Medicaid?

It is funded by federal, state, and local taxes Signup and view all the answers

A Medicare Supplement Policy is

Designed to fill in the gaps of Part A and Part B Medicare Signup and view all the answers

The purpose of Medicare Supplement Insurance is to address gaps in Medicare coverage, which can include

Medicare in-hospital deductible Signup and view all the answers

Which of these gaps in Medicare coverage is addressed with Medicare Supplemental Insurance?

Medicare in-hospital deductible Signup and view all the answers

Which of the following are two examples of activities of daily living (ADLs) used in qualifying for long-term care benefits?

Eating and dressing Signup and view all the answers

Under a long-term care insurance policy, adult day care coverage will provide for

Part-time care at a facility for elderly individuals who live at home Signup and view all the answers

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 Insurance premiums Signup and view all the answers

Long-Term Care policies may provide coverage for claims arising from

Senile dementia Signup and view all the answers

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?

Qualified Long-Term Care plan Signup and view all the answers

A long-term care policy typically provides all of the following levels of care EXCEPT

Acute care Signup and view all the answers

Bill requires some nursing care and supervision but NOT full-time care. Which of these nursing home options would best serve him?

Assisted living Signup and view all the answers

Which of the following would be considered an activity of daily living under a long-term care policy?

Bathing Signup and view all the answers

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?

Medicare supplement Plan F Signup and view all the answers

A Medicare Supplement policy must NOT contain benefits which

Duplicate Medicare benefits Signup and view all the answers

Which of the following nursing home options would BEST suit an individual who needs some nursing care and supervision but NOT full-time care?

Assisted living facilities Signup and view all the answers

Which of the following does Medicare Part D cover?

Prescription drugs Signup and view all the answers

A Medicare Supplement basic benefit is

The first 3 pints of blood per year Signup and view all the answers

Rating an individual's need for long-term care benefits can be measured by

Activities of daily living Signup and view all the answers

The typical long-term care insurance policy is designed to provide a minimum of __ year(s) of coverage.

1 Signup and view all the answers

Which of these factors is NOT taken into consideration when determining the cost of a long-term care policy?

Personal income Signup and view all the answers

Generally speaking, which three levels of care are Long-Term Care policies provided with?

Skilled nursing, intermediate, and custodial care Signup and view all the answers

Benefits provided by a Medicare Supplement policy must NOT

Duplicate Medicare benefits Signup and view all the answers

All _____ policies must be guaranteed renewable.

Long-term care Signup and view all the answers

A Medicare supplement plan can be canceled by the insurer

For nonpayment of premiums Signup and view all the answers

In a Long-Term Care policy, activities of daily living (ADLs) can be each of the following EXCEPT

Talking Signup and view all the answers

Someone needing custodial care at home would require which type of coverage?

Long-term care Signup and view all the answers

Which situation would qualify an individual for receiving benefits from a qualified long-term care policy?

Becoming cognitively impaired (mentally ill) Signup and view all the answers

Joe is a Medicare participant who receives his benefits through a Managed Health Care Plan. Which Medicare plan does he have?

Part C Signup and view all the answers

Periodic increases in policy benefits are allowed in which long-term care policy provision?

Inflation protection Signup and view all the answers

The difference between a Long Term Care Partnership Plan and a Non-Partnership Plan is which of the following?

Asset Protection Signup and view all the answers

What type of coverage pays a benefit for part-time nursing care that can be provided in a patient's home?

Home health care Signup and view all the answers

Which of the following is NOT a type of Medicare Advantage Plan?

Social Security Disability Income (SSDI) Signup and view all the answers

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.