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Long-Term Care (LTC) Insurance 9 Exam - 2024
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Long-Term Care (LTC) Insurance 9 Exam - 2024...
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Long-Term Care (LTC) Insurance 9 Exam -2024
Most long-term care insurance policies have benefit limits defined in
terms of the dollar amount that will be paid for any one covered
service or services. What are common benefit limits? - ANSWER flat
daily amounts, such as $50, $100, or $200
Which of the following best illustrates what makes a state's long-term
care partnership policy different from other long-term care policies?
- ANSWER A partnership policy holds tax-favored status.
Long-term care (LTC) insurance plans differ in which of the following
ways? - ANSWER the level of care offered and services provided
Hector's long-term care policy has a 30-calendar-day elimination
period and pays a $200 daily benefit. On March 1, his doctor certified
that he needed long-term care assistance, and a home health aide
began coming to his home every day, at a cost of $100 per day.
Ninety days later, Hector improved and no longer needed such care.
What amount of benefits will his policy pay? - ANSWER $6,000
Which of the following levels of long-term care is provided to help a
person meet daily living requirements, like bathing, dressing, or
eating? - ANSWER custodial care
A tax-qualified long-term care insurance policy enables policyowners
to deduct premiums as a medical expense and to also do which of the
following? - ANSWER receive limited benefits tax free
What two types of long-term care insurance policies resulted from
the Health Insurance Portability and Accountability Act? - ANSWER
tax qualified and non-tax qualified
Alice is a long-term care policyowner. Her return of premium option
allows her to have a paid-up policy with reduced benefits if she does
, which of the following? - ANSWER stops paying the premium
Insurers can sell both qualified and non-qualified LTC policies. What
can those who buy qualified policies do? - ANSWER deduct their
premium payments from their federal income taxes within certain
specified limits
Which of the following levels of long-term care is usually delivered in
a nursing home, but depending on the individual case, can also be
provided in one's home or a community-based center? - ANSWER
intermediate care
Which statement benefit triggers under a tax-qualified plan is
correct? - ANSWER They are more stringent than those for a
non-tax qualified plan.
Individual long-term care insurance policies are generally available
to persons in which of the following age groups? - ANSWER those
between the ages of 40 and 85
Alex has a long-term care (LTC) insurance policy with a return of
premium option. That option returns a part of the premium Alex paid
for the LTC coverage to Alex's estate or to a named beneficiary when
Alex dies. What is the amount of the premium returned based on? -
ANSWER whether Alex used the policy's benefits and if so, to what
extent
Which of the following levels of long-term care is almost always
delivered in a nursing home? - ANSWER skilled nursing care
an example of formal care in the context of long-term care? -
ANSWER Dennis performs homemaker chores through an agency.
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