Private Insurance Plans for Seniors Flashcards
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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?

  • Indemnity
  • Long-term care
  • Medicare Supplement (correct)
  • Medicaid
  • Which of the following types of care is typically not covered in a Long-Term Care policy?

  • Acupuncture (correct)
  • Home Health care
  • Skilled care
  • Custodial care
  • Nursing home benefits must be provided for at least 12 consecutive months in which of the following types of policies?

  • Critical Illness
  • Medicare Supplements
  • Long-Term Care (correct)
  • Blanket custodial
  • 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.

    <p>6</p> Signup and view all the answers

    A 'reimbursement policy' pays what amount of covered Long-Term Care expenses?

    <p>Actual covered expenses up to daily maximum</p> Signup and view all the answers

    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.

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