NC Medicare Supplement & Long Term Care Insurance Licensing Final Exam 100% Verified

NC Medicare Supplement & Long Term Care Insurance Licensing Final Exam 100% Verified Medicare - CORRECT ANSWER-Health insurance for those over age 65, people under 65 with certain disabilities & those with ESRD (end stage renal disease - permanent kidney failure requiring dialysis or kidney transplant) CMS - CORRECT ANSWER-Centers for Medicare and Medicaid Services administers the Medicare program. Social Security Administration handles most of the enrollment & plays a role in claims appeal process. MAC - CORRECT ANSWER-Medicare Administrative Contractor - company contracted to administer Part A & Part B claims. Medicare Part A - CORRECT ANSWER--hospital coverage -no premium requirements for those with 40 "work credits" of FICA or Self Employment tax credits. -Those who don't qualify can voluntarily participate by paying a monthly premium Medicare Part B - CORRECT ANSWER-The part of the Medicare program that pays for physician services, outpatient hospital services, durable medical equipment, and other services and supplies. -Has a monthly premium of $135.50 in 2019 which is deducted from SS check. -Part B enrollment is optional. You can reject Part B by signing a rejection form. Medicare Part C - CORRECT ANSWER-Medicare Advantage Plans that are offered through private insurance companies that provide both hospital and physician coverage and possible prescriptions - financed by Social Security and monthly premiums Medicare Eligibility - CORRECT ANSWER--Over age 65 who have earned 40 "work credits" in order to receive premium free part A benefits -Permanently disabled prior to age 65 for at least 24 months -ESRD or kidney disease requiring dialysis or kidney transplant Medicare enrollment requirements - CORRECT ANSWER-Part A & B are automatically conducted by SSA when individual age 65+ enrolls for their Social Security retirement benefits