Chapter 16 - Private Insurance Plans for Seniors

A health plan offered by private insurance companies is

A Medicare Supplement

Emergency health care coverage for Medicare enrollees traveling abroad is

A Medicare Supplement additional benefit

Which of the following describes coverage for the Medicare Part B coinsurance?

A Medicare Supplement core benefit

What is a "functional assessment" for long-term care benefits?

A review of the insured's ability to perform the activities of daily living

In long-term care insurance, what is an "ADL"?

Activities of daily living

Which of the following is NOT covered by a comprehensive long-term care policy?

Acute Care

Julie is in need of assistance with one or two activities of daily living. She may be eligible for a(n)

Assisted living facility

In long-term care insurance, what is the length of time for which claims will be paid?

Benefit period

The guarantee of insurability option provides a long-term care policyowner the ability to

Buy addition coverage at a later date

Which of the following is NOT an allowable exclusion for long-term care insurance policies?

Care for incurable conditions

Linda is covered with long-term care insurance and has early-stage Alzheimer's. She is still able to reside in her home while receiving primary care, as opposed to moving into a nursing home. All of the following long-term benefits encourage home health care EXCEPT

Custodial care

What type of doctor-ordered care assists an individual with performing basic daily activities such as bathing, dressing, and eating?

Custodial care

When dealing with long-term care coverage, which of the following are classified as ADLs?

Eating, bathing, dressing, and mobility

Terry receives long-term physical therapy at her residence. What type of insurance would cover this service?

Home health care

A family counseling benefit is typically offered under which of these coverages?

Hospice care

Some standard Medicare Supplement policies include which benefit?

Hospice care

Andy is in need of health care performed by skilled medical practitioners, but only on an intermittent basis. What level of care will his doctor likely prescribe?

Intermediate care

Respite Care coverage is typically found in a(n)

Long-Term Care policy

Custodial care is normally covered under

Long-term care insurance

Which of these is a type of private insurance that covers the cost-sharing amounts under Medicare?

Medicare Supplement

Medicare Part A coinsurance payments are covered by

Medicare Supplement Plan A

Medicare Part B excess charges are covered by

Medicare Supplemental insurance

Which individual would be best suited for Medicare Supplement insurance?

Medicare enrollee

Which of the following does NOT meet the requirements of "skilled nursing care"?

Must be provided exclusively in a hospita

Medicare Supplement insurance requires an individual to be at least how old for open enrollment?

No minimum age

Long-term care policies normally cover expenses associated with

Nursing Homes

Under a long-term care inflation rider, the benefit levels

Periodically increase without proof of insurability

Which would NOT be a location where skilled nursing care is provided?

Personal Residence

Patrick purchased a long-term care policy. He has a health condition for which medical treatment was recommended by a physician within 6 months prior to the policy's effective date. This condition is called a(n)

Pre-existing condition

Home health care benefits typically do NOT include coverage for

Prescription Medication

A Medicare Supplement policy is required to do which of the following?

Provide a 30 day free-look period

Which of the following does a Medicare Advantage enrollee typically pay for?

Small co-pay per visit or per service

Qualified long-term care premiums are treated for tax purposes as

Tax-deductible to the extent they exceed 7 1/2% AGI

Medicare Part A does NOT provide coverage for

The first 3 pints of blood

Which of the following is a true statement regarding a Medicare Supplement policy purchased during the open enrollment period?

The policy will be issued regardless of health

Medicare supplement insurance that provides a preventative medical care benefit will often cover

Yearly Physical Examinations

Which of these statements reflects an accurate portrayal of Medicare SELECT?

Insured uses preferred providers in exchange for paying lower premiums

Employer-paid qualified long-term care insurance premiums are typically

Excluded from the employee's gross income

Long Term Care policies will usually pay for eligible benefits using which of the following methods?

Expense incurred