life & health ch 31

Which of the following policies is meant to cover only gaps for medical costs not covered by another policy?

Medicare Supplement Insurance

New point not in the text - be sure to read the explanation! Each of the following can provide a Medicare Advantage Plan EXCEPT:

Social Security Disability Insurance (SSDI)

The Social Security Administration is the sole source of funding for which Medicare coverage section?

part a

Jane will not need a Medicare Supplement Policy if she has:

Medicare Part C

Under a Medicare policy:

Part A pays for hospital, Part B pays for physician care.

New point not in the text - be sure to read the explanation! Under Medicare Part B, the Insured will be expected to pay what portion of a physician's bill?

20%

Which of the following statements regarding Medicare is CORRECT?

It is funded by payroll taxes.

Which of the following is NOT covered under Medicare Supplement Insurance?

Long-Term Care.

Which is a state/federal program to provide health coverage for the destitute?

Medicaid

A Basic Hospital Plan is comparable to Medicare's:

Part A

Each of the following is true regarding Skilled Nursing Facility care under a Medicare policy EXCEPT

The Insured must have a daily prescription from a physician.

Which of the following statements regarding Medicare Supplement policies is CORRECT?

They may pay for extra days of hospital stay when Medicare benefits are exhausted.

What is the main purpose of Medicare Supplement Insurance?

To cover expenses not fully covered by Medicare.

New point not in the text - be sure to read the explanation! If a physician has agreed to accept assignment of Medicare benefits, that means that the physician:

agreed to accept the Medicare-approved rate as full payment although the patient will have to pay the deductible and coinsurance amount.