Chapter 20

Question 0

Purchases are free choice, benefits are a matter of choice between insured and insurer, fully funded, contractual benefits are not subject to change

Answer 0

Private insurance difference

Question 1

Compulsory for all eligible workers, predetermined by a formula set by law, pay-as-you go basis, benefits can be changed

Answer 1

Social security differences

Question 2

Every wage earner pays social security tax via ______ deductions from paychecks

Answer 2

Federal insurance contributions FICA

Question 3

Accumulate 40 quarters (10 years) of covered employment

Answer 3

Fully insured

Question 4

6 of the 13 quarters prior to death were covered employment. Eligible for survivor benefits but not retirement benefits

Answer 4

Currently insured

Question 5

The worker must have been in covered employment for 20 of the 40 quarters before disability to by fully insured

Answer 5

Disability insured

Question 6

Basic hospital insurance benefits for Medicare

Answer 6

Part a

Question 7

Voluntary supplementary medical benefits for Medicare

Answer 7

Part B

Question 8

Medicare advantage plans

Answer 8

Part C

Question 9

Medicare prescription drug coverage

Answer 9

Part D

Question 10

Supplement insurance for Medicare

Answer 10

Medigap