Exam (elaborations)
MEDICARE, MEDICAIDE, LTC NC INSURANCE QUESTIONS AND ANSWERS
- Course
- Institution
MEDICARE, MEDICAIDE, LTC NC INSURANCE QUESTIONS AND ANSWERS
[Show more]
Content preview
1-216 of 216Studies say how many people over 65 with go into a nursing home?
Give this one a try later!
2 out of 5
Under Medicare Part A, a benefit period is defined as the period of time that:
,Give this one a try later!
-Begins on the first day that a beneficiary is admitted to the hospital as an
inpatient and
-Ends on the 60th day after the beneficiary has been discharged
Suppose Jack became eligible for Medicare in January of 2013 but did not sign up for
Part B until July of 2015. The standard price for Part B is $104.90 in 2015.
Give this one a try later!
Although Jack waited 18 months after he first became eligible to sign up for
Part B, only one period of 12 full months has elapsed, so his penalty would
be an additional charge of 10% of his usual premium. The standard
premium for Part B in 2015 was $104.90. Assuming that Jack, like most
people, paid the standard premium, he would be charged an additional
$10.49 (10% of the standard premium amount) for a total premium of
$115.39 ($104.90 plus the $10.49 penalty). Jack would pay that additional 10%
penalty for as long as he had Medicare Part B, not just for the first year. If
the amount of the standard premium increased, the amount of the penalty
would also increase to equal 10% of the higher premium.
LTC Nonforfeiture Cash Surrender Value
Give this one a try later!
A guaranteed lump sum that is paid to the policyowner upon the lapse or
surrender of the policy.
LTC nonforfeiture
,Give this one a try later!
-Cash surrender value
-Reduced paid-up
-Extended term
Guaranteed Issue Medicare Supplement
Give this one a try later!
There is an Open Enrollment period for Medigap policies that begins on
the first day of the month that a person becomes eligible for Medicare Part
B and lasts for 6 months. Medicare beneficiaries who apply for Medigap
coverage during the Open Enrollment period must be issued a policy.
What is the late enrollment penalty for Medicare Part A?
Give this one a try later!
A similar 10% late enrollment penalty also applies to Part A coverage for
individuals who do not get their Part A coverage premium-free.
LTC nonforfeiture Reduced Paid-Up
Give this one a try later!
, A reduced amount of daily benefit is provided for the duration of the
benefit period after premium payments have been discontinued
Medicare Supplement Policies (Medigap)
Give this one a try later!
Private plans designed to supplement Medicare by giving coverage for
any gaps in Medicare benefits such as deductibles and coinsurance. Fits
closely with Medicare without duplicating coverage.
When was the MMA officially considered effective?
Give this one a try later!
January 1, 2006
A Medicare beneficiary bought a Medigap policy effective July 1. If the policy has a
preexisting conditions provision, what is the earliest date a condition could have been
diagnosed or treated and still be excluded?
A May 1 of the current year
B July 1 of the previous year
C March 1 of the current year
D January 1 of the current year
Give this one a try later!
D January 1 of the current year
*A condition can only be excluded as a preexisting condition if it was
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller selftest. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $9.00. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
79978 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now