Provate Insurance Plans For Seniors Flashcards
How are Medicare supplement insurance policies sold?
By private insurance companies to cover medical costs not covered by the government in Medicare parts A and B
What are Medicare supplements designed for?
Individuals who are enrolled in Medicare, however there is no minimum age requirement
Medicare supplements must be guaranteed side during open enrollment
Yup
All Medicare supplements policies must be guaranteed renewable
Yup
Is hospice care included in most standard Medicare supplement policies?
Yes
Medicare supplement policies typically provide foreign travel emergency health care coverage as a core benefit when you travel outside the us
Fuckin a right
Six minimum standards apply to all policies designated as Medicare supplement insurance
Must supplement both part A and part B of Medicare
Automatically just it’s benefits to reflect statutory changes in Medicare
It excludes coverage for preexisting conditions
Core benefits…
Cover coinsurance on hospital costs, up additional 365 days after Medicare part A hospital benefits run out..
Also on core benefits..
Medicare part A hospice
Medicare select
You choose providers that belong to a network. The insured agrees to use preferred providers and in exchange pay a lower premium
Medicare part D
Is a prescription drug plan… to participate it’s required a payment of a premium and a deductible
Long term care policies require?
In order for a insured to be qualified for benefits they must be unable to perform a minimum of two activity of daily living (ADL)
Activity of daily living (ADL’s) are what?
The basic tasks of everyday life, dressing, eating, breathing and mobility
Long term care insurance the benefit period is…?
The length of time for which claims will be paid
The cost of long term care policies are based off of what?
Age, health, condition, and level of benefits provided
