Podcast
Questions and Answers
If a retiree on Medicare required five hospital stays in one year, which policy would provide the best insurance for excess hospital expenses?
If a retiree on Medicare required five hospital stays in one year, which policy would provide the best insurance for excess hospital expenses?
Which of the following types of care is typically not covered in a Long-Term Care policy?
Which of the following types of care is typically not covered in a Long-Term Care policy?
Nursing home benefits must be provided for at least 12 consecutive months in which of the following types of policies?
Nursing home benefits must be provided for at least 12 consecutive months in which of the following types of policies?
Qualified Long-Term Care policies may take into consideration an applicant's pre-existing conditions for a maximum of not more than __ month(s) prior to the effective date of coverage.
Qualified Long-Term Care policies may take into consideration an applicant's pre-existing conditions for a maximum of not more than __ month(s) prior to the effective date of coverage.
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A 'reimbursement policy' pays what amount of covered Long-Term Care expenses?
A 'reimbursement policy' pays what amount of covered Long-Term Care expenses?
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Study Notes
Medicare Coverage
- Medicare Supplement policies are advantageous for retirees with multiple hospital stays, covering excess hospital expenses that Medicare does not.
Long-Term Care Insurance
- Acupuncture is typically excluded from coverage in Long-Term Care policies, focusing instead on essential medical and custodial services.
- Long-Term Care policies must provide nursing home benefits for a minimum of 12 consecutive months, ensuring extended support for long-term residents.
Pre-existing Conditions
- Qualified Long-Term Care policies can consider an applicant's pre-existing conditions up to 6 months prior to the effective date of coverage, potentially affecting eligibility and costs.
Reimbursement Policies
- Reimbursement policies in Long-Term Care insurance cover actual expenses incurred that do not exceed a specified daily maximum, rather than providing a flat daily amount or covering all expenses indiscriminately.
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Description
Test your knowledge with these flashcards covering Private Insurance Plans for seniors, focusing on Medicare, long-term care, and policies that cater to retirees. This quiz will help you understand the different types of coverage available and what is typically excluded.
