Ch. 5: Private Plans For Seniors Flashcards
1
Q
Medicare Supplements
A
AKA Medigap: Sold by private insurance companies to cover medical costs covered by the government
Private not Social security like Medicare
- Guaranteed renewable
- hospice care is included
- must be paying premiums or policy will be cancelled
2
Q
Core benefits
A
Covers:
- Medicare Part A hospice coinsurance or copay
- Medicare Part B copay
- First 3 pints of blood received
3
Q
Medicare Select
A
- Choose providers from a certain network
- Includes provider groups, hospital marketing plans that are formed by insurers or third parties
- Pays lower premiums in return for choosing specific providers
4
Q
Medicare Part C
A
- Provided by a HMO or PPO
- Provides additional benefits beyond standard Medicare coverage like hearing aids, dental care, drugs
5
Q
Medicare Part D
A
Administered by one of several private insurance companies each offering a plan with different costs and list of drugs covered
6
Q
Long Term Care Insurance
A
- Includes nursing home or medical, personal and environmental services
- ADLs : Activities of Daily Living
- Benefit period is the length of time claims will he paid
7
Q
Long-Term Care Coverage
A
- Designed to provide coverage for a minimum benefit period of 1 year
- Based on age, health condition, level of benefits provided
- Reimbursement basis
8
Q
LTC Partnership Programs
A
Helps those who have exhausted or at least used some of their private LTC benefits to apply for Medicaid Coverage
