Social Insurance

Question 1

What is another name for Old Age, Survivors, and Disability Insurance benefits?

Answer 1

Social Security

Question 2

An insured with Medicare Part D has reached the initial benefit limit and must now pay a portion of prescription drugs costs. What is the term for this gap in coverage?

Answer 2

The donut hole

Question 3

How does someone qualify for Social Security disability income benefits?

Answer 3

The insured must have the proper insured status (such as fully insured), meet the definition of disability, and satisfy the waiting period

Question 4

An insured is covered under a Medicare policy that provides a list of network healthcare providers that the insured must use to receive coverage. In exchange for this limitation, the insured is offered a lower premium. Which type of Medicare policy does the insured own?
A) Medicare Part A
B) Medicare Supplement
C) Medicare Advantage
D) Medicare SELECT

Answer 4

D) Medicare Select

Question 5

Following hospitalization because of an accident, an insured was confined to a skilled nursing facility. Medicare will pay full benefits in this facility for how many days?
A) 3
B) 20
C) 100
D) 80

Answer 5

B) 20

Question 6

Which one of the following is an eligibility requirement for Social Security disability income benefits?
A) Experiencing at least one year of disability
B) Being at least 50 years of age
C) Currently employed status
D) Fully insured status

Answer 6

D) Fully insured status

Question 7

Which of the following is INCORRECT concerning Medicaid?
A) It provides medical assistance to low-income people who cannot otherwise provide for themselves
B) It pays for hospital care, outpatient care, and laboratory and X-ray services.
C) The federal government provides about 56 cents for every Medicaid dollar spent
D) It is solely a federally administered program

Answer 7

D) It is solely a federally administered program

(Funded by federal and state funds)