NC Medicare/LTC Exam Questions and Answers (VERIFIED ANSWERS) (latest Update 2024) GRADED A+

NC Medicare/LTC Exam Questions and Answers (VERIFIED ANSWERS) (latest Update 2024) GRADED A+ T/F. Relating to a tax qualified LTC policy, the premiums paid for the policy may be a deductible expense, and the benefits paid are also not considered taxable income. - ANSWER-True. T/F. Skilled nursing care is primarily custodial care. - ANSWER-False. (It is specialized, acute care that can only be performed by professionals) Long term care is primarily what type of care? - ANSWER-Personal/custodial care Hospice drug benefits for pain relief/symptom control have a copayment of what? - ANSWER-$5 Skilled nursing facility coinsurance is how much per day and starts after how many days of care? - ANSWER-$170.50 per day, beginning on after the first 20 days. (100 days of coverage) What is a qualifying hospital stay? - ANSWER-3 days hospitalization (Provides Medicare coverage after 30 days have elapsed) Qualified medical expenses paid for from a Medical Savings Account (MSA) are taxed how? - ANSWER-Not taxable. (Funds are used to pay deductibles during the year) *Only taxable when funds are used for anything other than qualified medical expenses.