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Medicare supplement-LTC NC Exam Questions and Answers
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Medicare supplement-LTC NC Exam Questions and Answers
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Medicare supplement/LTC NC ExamQuestions and Answers
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 covered by medicare but wish to purchase it.
This also pays for Medicare part A - Answer -Taxes paid on Social Security benefits
Medicare part B is funded - Answer -Partially by general tax revenues and partially by
premiums paid to the federal government by Medicare part B beneficiaries
Part B beneficiary must - Answer -Must pay a premium for coverage on like Part a
Most part B beneficiaries pay - Answer -The standard part B premium which may be
adjusted each year for inflation
What is the threshold Part B beneficiaries have to a seed for a higher premium? -
Answer -$85,000 for single people and $170,000 for married couples filing jointly
Medicare Savings Program - Answer -A state run programs some low income
individuals may qualify for that assist with paying the cost of Medicare coverage
Qualified Medicare beneficiary(QMB) program - Answer -A program for those whose
monthly income is no more than the federal poverty level plus $20. Helps pay the part B
premium and may also help pay a beneficiary's part a premium , Deductibles,
coinsurance, and copayments
Specified low-income Medicare beneficiary (SLMB) - Answer -To qualify, a persons
Monthly be income is no more than 120% of the federal poverty level plus $20. This
program only pays for the part B premium no other Medicare costs
, qualifying individual (QI) - Answer -To qualify a persons monthly income is no more than
135% of the federal Poverty level Plus $20. This program helps pay for only the part B
premium
Medicare part C is referred to as - Answer -Medicare advantage
Medicare Advantage is - Answer -A combination of part a and part B coverage plus
additional benefits not covered by original Medicare such as hearing or vision care
Medicare part D is funded - Answer -Partially by general tax revenues and partially by
premiums paid by part the beneficiaries... Like part B
Medicare part B premiums are - Answer -Pay to the provider of the part D plan rather
than the federal government unlike part B
To be eligible to enroll in Medicare individuals must be - Answer -Age 65 or older, social
security disability beneficiaries (Generally after two years) Are suffering from end-stage
renal disease
Enrollment in Medicare part a and B is automatic for - Answer -People who are already
receiving Social Security benefits
For people covered by Social Security - Answer -Part A is premium free but part B is
not. Individuals automatically enroll in part B have the option to drop it if they don't want
to pay the premium
The late enrollment penalty for part B plans is - Answer -And additional charge of 10%
of the part B premium for every 12 months that has passed since their eligibility for
Medicare.
initial enrollment period (IEP) - Answer -For Medicare is a seven month. That includes
the month someone's birthday occurs and the three months on either side
general enrollment period (GEP) - Answer -The designated enrollment period from
January 1 through March 31 each year for those who missed their initial enrollment. The
coverage does not become effective until July 1
special enrollment period (SEP) - Answer -A currently employed individual who is still
insured under a group health plan when he or she reaches age 65 can either enroll into
Medicare while still covered by his or her group health plan, or defer Medicare
enrollment until he or she retires. Once employer group health coverage has ended, a
retiree enters a Special Enrollment Period (SEP) in which he or she has 8 months to
enroll into Parts A and B without being charged late Part A and Part B enrollment
penalties.
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