NC Medicare Supplement Study guides, Revision notes & Summaries

1. Long-Term Care benefits may be triggered by the insured's inability to perform at least ______ Activities of Daily Living (ADL's). A 5 B 3 C 4 D 2 - ANSWER D 2 2. In North Carolina, eligibility for Medicaid is determined by: A The State Treaury B North Carolina's Department of Health and Welfare C The U.S. Treasury D The county Departments of Social Services (DSS) and the Social Security Administration (SSA) for Supplemental Security Income (SSI) beneficiaries - ANSWER I...

A man is planning to retire after age 65. Until then, he will have his employer's health plan. When should he enroll in Medicare Part B? - ANSWER Within the 8 months of the day he is no longer employed or when coverage under the group plan ends In the Original Medicare Plan Part B, the percentage of the approved amount paid by the patient is 20%. This is referred to as - ANSWER Coinsurance What process will the insurance company use to monitor the insured's hospital stay to make sure tha...

Medicare (4 parts) - ANSWER Part A: Hospital insurance (hospital Visit) Part B: Physician Service(doctor visit) Part C: Medicare advantage(Privatized Medicare) Part D: Prescription drugs Which best describes medicare? - ANSWER It is a basic hospital and doctor policy Who receives medicade? - ANSWER Low income, in need of financial aid true name of social security - ANSWER old age survivors insurance Medicare supplements - ANSWER Medi-gap medicare select -off set the cost of m...

Horace buys a Medicare supplement insurance policy but decides not to keep it. How many days does he have to return it for a full refund of the premium? - ANSWER 30 days Which of the following individuals is an appropriate customer for a Medicare supplement policy? - ANSWER Someone enrolled in both Part A and Part B of Medicare A purchased a long-term care policy on June 15. Two weeks later, she lost her job and decided that she could no longer afford the policy. What are her options? - AN...

Which of the following individuals is an appropriate customer for a Medicare supplement policy? - ANSWER Someone enrolled in both Part A and Part B of Medicare An insurer may exclude coverage for a preexisting condition on a Medicare Supplement policy for up to - ANSWER 6 months An insured has a LTC policy that has been in force for 3 months. In how many more months will the policy become incontestable on the grounds of misrepresentation alone? - ANSWER 21 months Every agent soliciting ...

Federal Program - ANSWER Medicare is a federal health insurance program. Part of the Social Security program, Medicare is run by the Centers for Medicare & Medicaid Services of the Department of Health and Human Services. Private firms contract with the federal government to handle the paperwork, review claims, and disburse claim payments. Medicare Part A - ANSWER Designed primarily to provide hospital insurance and to pay for certain other types of institutional care. Medicare Part B - AN...

How many pints of blood will be paid for by Medicare supplement core benefits? - ANSWER First 3 pints What is the purpose of Medicare supplement plans? - ANSWER To fill the gaps in Medicare coverage What is the purpose of respite care in long-term care insurance? - ANSWER To provide relief for a major caregiver (usually a family member) What is another name for Medicare advantage plans? - ANSWER Part C

what facility is long term care NOT provided in - ANSWER Hospital an insured receives health care through both Medicare and Medicaid. She Currently has prescription drug coverage through Medicaid. does the insured need to enroll in Medicare part D? - ANSWER Yes, she must begin receiving her prescription Drug coverage through Part D To quality for skilled nursing care a patient must - ANSWER have a qualifying hospital stay of at least 3 consecutive days if a insured returns a Medicare su...

After an accident, P stayed in the hospital for a week. Medicare Part A will cover all of the following EXCEPT: - ANSWER Doctor's Bill Medicare Part B covers which of the following? - Which is NOT true regarding Medicare Part A home health care? - ANSWER It pays for 60% of common medical supplies like bandages and gauze. Which of the following can't be excluded in a Medicare Supplement Policy? - ANSWER Alzheimer's If an LTC policy has a return of premium option, the amount returned...

Medicare - ANSWER A federal program of health insurance for persons 65 years of age and older Medicare is run by - ANSWER Centers for Medicare and Medicaid services of the department of health and human services Medicare parts A & B are - ANSWER Referred to as original Medicare Medicare Part A(Inpatient) is funded - ANSWER By the hospital insurance portion of the FICA payroll tax collected from workers and employers. Also by the premiums paid by individuals who aren't automatically cov...