Medicaid and Long-Term Care Financial Considerations Quiz

Explore differences, eligibility criteria, asset protection, and long-term care coverage in this Medicaid vs. Medicare quiz.

#1

Which of the following is a primary difference between Medicare and Medicaid?

Medicare is only for people over 65, while Medicaid is for low-income individuals and families.
Medicare covers long-term care costs, while Medicaid does not.
Medicare is funded entirely by the federal government, while Medicaid is funded by both federal and state governments.
Medicare covers prescription drugs, while Medicaid does not.
#2

What type of care does Medicaid typically cover?

Emergency care only
Primary care visits
Long-term care, including nursing home stays
Specialized surgeries only
#3

Which of the following is NOT a common method used to protect assets when planning for Medicaid eligibility?

Transferring assets to an irrevocable trust
Selling assets at fair market value
Purchasing an annuity
Gifting assets to family members
#4

What is the look-back period for Medicaid eligibility when assessing asset transfers?

3 months
6 months
1 year
5 years
#5

Which of the following is a Medicaid program designed specifically to assist with long-term care services provided at home or in a community setting?

Medicare Advantage
PACE (Program of All-Inclusive Care for the Elderly)
Medicaid Waivers
Medicaid Buy-In
#6

In Medicaid planning, what is the 'community spouse'?

A spouse who is not eligible for Medicaid benefits
A spouse who resides in a nursing home
A spouse who is legally separated
A spouse who is also eligible for Medicaid benefits

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