Health Ch. 5 Private Insurance Plans for Seniors

Medicare Supplement policies require which of the following minimal renewability options? Guaranteed renewable Optionally renewable Nonrenewable Noncancelable

Any standardized Medicare Supplement policy is guaranteed renewable even if you have health problems.

Michelle purchased a Long Term Care policy 12 months after suffering a stroke. Any future claims she will have related to this stroke will be denied covered covered only if additional premiums are paid denied only if she was experiencing problems from the stroke at the time of application

The correct answer is "covered". Most LTC policies do not cover conditions that existed during the 6 months before the policy effective date. In this situation, the event occurred 12 months prior.

Medicare Supplement policies offer a free look period for 10 days 30 days 45 days 60 days

The free look period for a Medicare Supplement policy is 30 days.

When dealing with long-term care coverage, which of the following are classified as ADLs? Reading, writing, learning Occupation, income, insurability Age, height, weight Eating, bathing, dressing

In long-term care insurance, ADL's normally include dressing, eating, bathing, mobility, toileting, and continence.

A health plan that is offered by private insurance companies is Social Security Medicaid Medicare Medicare Supplement

Medicare supplements are provided by private insurers.

With Long Term Care insurance, which of these types of coverages is considered optional? Medicare Supplements Supplemental income Respite care Prescription drug coverage

Respite care for the caregiver is considered optional for Long Term Care.

A short-term replacement caregiver in the home is provided for in which type of long-term care coverage? Caregiver care Custodial care Respite care Skilled nursing care

Respite care is designed to provide a short rest period for a caregiver in the home.

Assume a diabetic 75 year-old woman does not qualify for Medicaid because her income and resources exceed state guidelines, but she applies anyway and actually qualifies for Medicaid as a Medically Needy person. Which of the following statements BEST explains how she would qualify? Diabetes automatically qualifies a senior citizen for Medicaid She transfers all her assets and income to a family member She qualifies because of her age She spent enough money on medical expenses during a certain time period to lower her reported income within Medicaid eligibility standards

She spent enough money on medical expenses during a certain time period to lower her reported income within Medicaid eligibility standards.

The law that effectively standardized Medicare Supplement plans is called the Medicare Supplementation Act (MSA) Consolidated Omnibus Budget Reconciliation Act Health Insurance Portability and Accountability Act (HIPAA) Omnibus Budget Reconciliation Act (OBRA)

The Omnibus Budget Reconciliation Act of 1990 requires all Medicare supplemental (Medigap) insurance policies to conform to minimum standards.

Long Term Care plans are designed primarily to pay for out-of-pocket expenses provide an income pay for many of the medical expenses that Medicare coverage does not provide for convalescent, custodial, or residential care in a nursing home

The primary purpose for Long Term Care policies is to pay for convalescent, custodial, or residential care in a nursing home.

Medicare Supplement policies are designed to provide coverage for custodial care provide a supplemental income source provide coverage for medical expenses not covered by Medicare provide coverage for medical expenses not covered by Medicaid

The purpose of a Medicare Supplement policy is to pay for many of the medical expenses that Medicare coverage does not.