CFP 512 4 extra UPDATED ACTUAL Questions and CORRECT Answers
1. Medicaid covers most health care costs, including hospital
and doctor bills and custodial care in a nursing
home. Medicaid is also required by law to pay
Medicare premiums, deductibles, and coinsurance
for Medicare-eligible Medicaid patients
provides coverage for long-term care (LTC)—in-
cluding nursing home care
Medicaid law includes a provision defining a look-
back period of 60 months for assets transferred to
others
2. Recall that Medicaid is a joint fed-
eral and state health insurance pro-
gram. Generally, the program is ad-
ministered by the states with finan-
cial assistance from the federal gov-
ernment.
3. If a taxpayer elects to itemize, unre-
imbursed qualified medical expenses
in excess of 7.5% of adjusted gross in-
come (AGI) can be claimed as an item-
ized deduction.
4. MAdatory benefits Inpatient hospital services Freestanding birth cen-
ter services Outpatient hospital services Home
health services Physician services Laboratory and
X-ray services Early and periodic screening, diag-
nostic, and treatment services (EPSDT) Certified pe-
diatric and family nurse practitioner services Family
planning services Nursing facility services Federally
, qualified health center services Nurse midwife ser-
vices Rural health clinic services Tobacco cessation
counseling for pregnant women Nonemergency
transportation to medical car
5. Optional Medicaid Benefits The following are op-
tional Medicaid benefits that states may cover
if they choose: Clinic services Prescription drugs
Physical therapy Speech, hearing, and language
disorder services Respiratory care services Podia-
try services Occupational therapy services Optom-
etry services Dental services Health homes for en-
rollees with chronic conditions Targeted case man-
agement services Prosthetics Hospice services Eye-
glasses Other licensed practitioners' services Den-
tures Personal care
6. Medicare has 4 main aprts 1. Part A covers four main benefit areas: inpa-
tient hospital care, posthospital extended care in
a skilled nursing facility, posthospital home health
services, and hospice care.
2. Part B pays physicians and for other outpatient
treatment, certain preventive services, screening
tests, and home dialysis, as well as other services.
3. Part C (Medicare Advantage) provides four pro-
gram alternatives: Medicare HMO, PPO, private
fee-for-service, and Medicare special needs plans.
Medicare MSAs may also be available to supple-
ment the basic coverage.
4. Part D provides prescription drug coverage.
7.
, Each year, a deductible is set per occurrence of
illness, which means that the client may pay this
deductible more than once in a year if there are
hospital stays a minimum of 60 days apart. The de-
ductible is charged, but there is no coinsurance for
days 1-60 of each benefit period. For hospital stays
longer than 60 days and under 91 days, includ-
ing readmission within 60 days of being released,
there is a set copayment that changes annually.
That copayment increases after the 91st day-150th
day, which are considered lifetime reserve days.
Clients have a total of 60 days over their lifetimes
that qualify for these excess days. The copay for
those days are set every year. If a patient remains in
the hospital for more than 150 days within a benefit
period, the total hospital costs beyond the 150 days
are the responsibility of the patient. There is no limit
to the number of benefit periods people can have
during their lifetimes.
8. Medicare only offers limited cover-
age under Part A for expenses related
to long-term care (LTC). The insured
must first stay in a hospital for at least
three days and must also be expect-
ed to recover from the medical condi-
tion. Then, within 30 days, the individ-
ual must enter a Medicare-approved
nursing home. As long as the care
is provided at a skilled nursing level,
benefits may be available for up to 100
days. Skilled nursing care essentially
1. Medicaid covers most health care costs, including hospital
and doctor bills and custodial care in a nursing
home. Medicaid is also required by law to pay
Medicare premiums, deductibles, and coinsurance
for Medicare-eligible Medicaid patients
provides coverage for long-term care (LTC)—in-
cluding nursing home care
Medicaid law includes a provision defining a look-
back period of 60 months for assets transferred to
others
2. Recall that Medicaid is a joint fed-
eral and state health insurance pro-
gram. Generally, the program is ad-
ministered by the states with finan-
cial assistance from the federal gov-
ernment.
3. If a taxpayer elects to itemize, unre-
imbursed qualified medical expenses
in excess of 7.5% of adjusted gross in-
come (AGI) can be claimed as an item-
ized deduction.
4. MAdatory benefits Inpatient hospital services Freestanding birth cen-
ter services Outpatient hospital services Home
health services Physician services Laboratory and
X-ray services Early and periodic screening, diag-
nostic, and treatment services (EPSDT) Certified pe-
diatric and family nurse practitioner services Family
planning services Nursing facility services Federally
, qualified health center services Nurse midwife ser-
vices Rural health clinic services Tobacco cessation
counseling for pregnant women Nonemergency
transportation to medical car
5. Optional Medicaid Benefits The following are op-
tional Medicaid benefits that states may cover
if they choose: Clinic services Prescription drugs
Physical therapy Speech, hearing, and language
disorder services Respiratory care services Podia-
try services Occupational therapy services Optom-
etry services Dental services Health homes for en-
rollees with chronic conditions Targeted case man-
agement services Prosthetics Hospice services Eye-
glasses Other licensed practitioners' services Den-
tures Personal care
6. Medicare has 4 main aprts 1. Part A covers four main benefit areas: inpa-
tient hospital care, posthospital extended care in
a skilled nursing facility, posthospital home health
services, and hospice care.
2. Part B pays physicians and for other outpatient
treatment, certain preventive services, screening
tests, and home dialysis, as well as other services.
3. Part C (Medicare Advantage) provides four pro-
gram alternatives: Medicare HMO, PPO, private
fee-for-service, and Medicare special needs plans.
Medicare MSAs may also be available to supple-
ment the basic coverage.
4. Part D provides prescription drug coverage.
7.
, Each year, a deductible is set per occurrence of
illness, which means that the client may pay this
deductible more than once in a year if there are
hospital stays a minimum of 60 days apart. The de-
ductible is charged, but there is no coinsurance for
days 1-60 of each benefit period. For hospital stays
longer than 60 days and under 91 days, includ-
ing readmission within 60 days of being released,
there is a set copayment that changes annually.
That copayment increases after the 91st day-150th
day, which are considered lifetime reserve days.
Clients have a total of 60 days over their lifetimes
that qualify for these excess days. The copay for
those days are set every year. If a patient remains in
the hospital for more than 150 days within a benefit
period, the total hospital costs beyond the 150 days
are the responsibility of the patient. There is no limit
to the number of benefit periods people can have
during their lifetimes.
8. Medicare only offers limited cover-
age under Part A for expenses related
to long-term care (LTC). The insured
must first stay in a hospital for at least
three days and must also be expect-
ed to recover from the medical condi-
tion. Then, within 30 days, the individ-
ual must enter a Medicare-approved
nursing home. As long as the care
is provided at a skilled nursing level,
benefits may be available for up to 100
days. Skilled nursing care essentially
