#1
Which of the following is true about Medicare Advantage (MA) plans?
They are administered by private insurance companies.
They are administered by the federal government.
They are available only to individuals under 65 years old.
They cover all healthcare costs with no out-of-pocket expenses.
#2
What is the annual enrollment period for Medicare Advantage plans?
January 1 to March 31
October 15 to December 7
April 1 to June 30
July 1 to September 30
#3
In which year did Medicare Advantage plans first become available?
#4
What is the minimum number of years an insurance company must participate in the Medicare Advantage program before it can terminate its contract?
1 year
2 years
3 years
5 years
#5
What percentage of Medicare Advantage plans offer prescription drug coverage?
Less than 10%
Around 25%
Approximately 50%
Over 90%
#6
Which government agency oversees Medicare Advantage plans?
Centers for Disease Control and Prevention (CDC)
Food and Drug Administration (FDA)
Centers for Medicare & Medicaid Services (CMS)
Department of Health and Human Services (HHS)
#7
What is the penalty for enrolling in a Medicare Advantage plan late?
There is no penalty for late enrollment.
A permanent increase in premiums.
A waiting period before coverage begins.
A percentage-based increase in premiums.
#8
What percentage of Medicare beneficiaries are enrolled in Medicare Advantage plans?
Less than 10%
Around 20%
Approximately 30%
Over 40%
#9
Which of the following is a key feature of Medicare Advantage plans?
Guaranteed renewal regardless of health status
Exclusion of coverage for prescription drugs
Limited availability in rural areas
Coverage limited to emergency services only
#10
What is the maximum out-of-pocket limit for Medicare Advantage plans in 2024?
$3,400
$6,700
$10,000
$15,000
#11
Which of the following individuals is eligible to enroll in a Medicare Advantage plan?
An 80-year-old US citizen
A permanent resident under 65 with end-stage renal disease (ESRD)
An individual living outside the US for more than 6 months
A Medicare beneficiary enrolled in a Medigap plan
#12
Which of the following is NOT a type of Medicare Advantage plan?
Health Maintenance Organization (HMO)
Preferred Provider Organization (PPO)
Medicare Supplement Insurance (Medigap)
Private Fee-for-Service (PFFS)
#13
What is the term used for the process of switching from Original Medicare to a Medicare Advantage plan?
Medicare Switch
Medicare Transfer
Medicare Conversion
Medicare Enrollment
#14
Which of the following is NOT a reason why someone might choose a Medicare Advantage plan over Original Medicare?
Lower out-of-pocket costs
Additional benefits like vision and dental coverage
More flexibility in choosing healthcare providers
Guaranteed issue rights for Medigap policies
#15
What is the star rating system used for Medicare Advantage plans?
To determine eligibility for enrollment
To rank plans based on customer satisfaction and quality
To calculate premiums for beneficiaries
To assess the financial stability of insurance companies
#16
Which federal program is NOT integrated with Medicare Advantage plans?
Medicare Part D
Medicare Part A
Medicare Part C
Medicare Part B
#17
What is the primary difference between a Health Maintenance Organization (HMO) and a Preferred Provider Organization (PPO) Medicare Advantage plan?
HMOs require referrals to see specialists, while PPOs do not.
PPOs have higher monthly premiums than HMOs.
HMOs have a larger network of healthcare providers than PPOs.
PPOs have a more restrictive network of healthcare providers than HMOs.