SC Health, Life, Accident Insurance Exam Questions with Correct Answers

Part A - ANSWER-Hospital Insurance, helps pay for inpatient hospital care, inpatient care in a skilled nursing facility, home health care and hospice care Part B - ANSWER-Medical Insurance, financed from monthly premiums paid by insureds and from the general revenues of the federal government Part C - ANSWER-Allows people to receive all of their health care services through available provider organizations Part D - ANSWER-Prescription Drug coverage Part A - Initial Enrollment - ANSWER-when an individual first becomes eligible for Medicare (starting 3 months before turning 65, ending 3 months after their 65th birthday) Part A - General Enrollment - ANSWER-between January 1st and March 31st each year Part A - Special Enrollment - ANSWER-at any time during the year if the individual or his/her spouse is still employed and covered under a group health plan Failure to Sign up for Part A - ANSWER-If an individual fails to sign up for Part A when they are first eligible, the monthly premium may go up 10% unless the person become eligible for a special enrollment period. Part B - Enrollment - ANSWER-You will get and have to pay for Part B unless you decline, when you become eligible for Part A. Once declined, you must wait until the next general enrollment period. Medicare Advantage - ANSWER-Was originally called Medicaere + Choice. Was changed in 2003 as a result of The Medical Modernization Act of 2003.