HFMA CSPR
Course 2
Comprehensive
Final Exam Review
Q&A
2024
, 1. What is the primary difference between Medicare and Medicaid in
terms of funding sources?
- A) Medicare is funded by state governments, while Medicaid is funded
by federal taxes.
- B) Medicare is funded by payroll taxes, while Medicaid is funded by
general state and federal taxes.
- C) Medicare is funded by beneficiary premiums, while Medicaid is
funded by state taxes.
- D) Medicare is funded by federal income taxes, while Medicaid is
funded by payroll taxes.
Answer: B) Medicare is funded by payroll taxes, while Medicaid is
funded by general state and federal taxes.
Rationale: Medicare is primarily funded through payroll taxes under the
Federal Insurance Contributions Act (FICA) and the Self-Employment
Contributions Act (SECA), while Medicaid is funded by state and federal
taxes, with the federal share coming from general revenue.
2. In the context of Medicaid, what does the term 'benchmark coverage'
refer to?
- A) The minimum coverage required by federal law.
- B) The standard coverage offered by private insurers.
- C) The most comprehensive coverage available in the market.
- D) The reference coverage used for determining reimbursement rates.
Answer: A) The minimum coverage required by federal law.
Rationale: Benchmark coverage refers to the minimum health coverage
that states must provide to certain Medicaid enrollees under the
Affordable Care Act (ACA). It serves as a benchmark for the essential
health benefits that must be included.
3. Which of the following best describes a Medicare Advantage Plan?
- A) A supplemental insurance plan that covers services not included in
traditional Medicare.
- B) A fee-for-service plan where the government pays healthcare
providers directly.
- C) A managed care plan offered by private companies that contract
with Medicare.
- D) A state-run program that provides additional benefits to low-income
Course 2
Comprehensive
Final Exam Review
Q&A
2024
, 1. What is the primary difference between Medicare and Medicaid in
terms of funding sources?
- A) Medicare is funded by state governments, while Medicaid is funded
by federal taxes.
- B) Medicare is funded by payroll taxes, while Medicaid is funded by
general state and federal taxes.
- C) Medicare is funded by beneficiary premiums, while Medicaid is
funded by state taxes.
- D) Medicare is funded by federal income taxes, while Medicaid is
funded by payroll taxes.
Answer: B) Medicare is funded by payroll taxes, while Medicaid is
funded by general state and federal taxes.
Rationale: Medicare is primarily funded through payroll taxes under the
Federal Insurance Contributions Act (FICA) and the Self-Employment
Contributions Act (SECA), while Medicaid is funded by state and federal
taxes, with the federal share coming from general revenue.
2. In the context of Medicaid, what does the term 'benchmark coverage'
refer to?
- A) The minimum coverage required by federal law.
- B) The standard coverage offered by private insurers.
- C) The most comprehensive coverage available in the market.
- D) The reference coverage used for determining reimbursement rates.
Answer: A) The minimum coverage required by federal law.
Rationale: Benchmark coverage refers to the minimum health coverage
that states must provide to certain Medicaid enrollees under the
Affordable Care Act (ACA). It serves as a benchmark for the essential
health benefits that must be included.
3. Which of the following best describes a Medicare Advantage Plan?
- A) A supplemental insurance plan that covers services not included in
traditional Medicare.
- B) A fee-for-service plan where the government pays healthcare
providers directly.
- C) A managed care plan offered by private companies that contract
with Medicare.
- D) A state-run program that provides additional benefits to low-income
