Ch 20: Social Insurance Flashcards
Social security system provides a ________ of benefits for retired workers and for workers and their families if a worker is disabled or dies.
Minimum floor
Retirement. Enefjts are available for workers who are
Fully insured (40 quarters of coverage)
Retirement benefits are paid how often?
Monthly
Death/survivor’s benefits begins with a lump sum of how much?
$255
Death/survivor benefits are paid only to:
Widower or minor children
Black out period in survivor benefits refers to:
When no benefits are paid. This gap happens when a widower has a child and benefits stop when the youngest child turns 16, and begins again when the widower turns 60.
For survivor benefits paid to children, what are the requirements?
Unmarried under 18, under 19 but full time school, or 18 or older and disabled.
Disability income benefits in social security has the most Shri to definition of disability and does not recognize partial or temporary disabilities. They have a waiting period of how long?
5 months
Medicare is administered by:
Health care financing administration (HCFA), a division of the department of Heath and human services
Medicare part A begins at age?
65
Medicare part A covers:
Hospital stays and impatient mental health care, hospice care (rehab excluded)
Medicare part A excludes:
Excludes physician services
Excludes prescription drugs
Does not cover first 3 pints of blood
Part b of Medicare covers:
Physical devices
Requires monthly premium
After paying deductible, 20% coinsurance
When a person enrolls in Medicare, they will automatically
Be enrolled in part A and B
For Medicare, who submits claims to Medicare?
The medical provider