#1
Which of the following is true about Medicare Advantage (MA) plans?
They are administered by private insurance companies.
ExplanationPrivately administered insurance plans.
#2
What is the annual enrollment period for Medicare Advantage plans?
October 15 to December 7
ExplanationEnrollment period: October 15 - December 7.
#3
In which year did Medicare Advantage plans first become available?
1997
ExplanationMA plans started in 1997.
#4
What is the minimum number of years an insurance company must participate in the Medicare Advantage program before it can terminate its contract?
3 years
ExplanationMinimum participation: 3 years.
#5
What percentage of Medicare Advantage plans offer prescription drug coverage?
Over 90%
ExplanationOver 90% offer drug coverage.
#6
Which government agency oversees Medicare Advantage plans?
Centers for Medicare & Medicaid Services (CMS)
ExplanationCMS oversees Medicare Advantage.
#7
What is the penalty for enrolling in a Medicare Advantage plan late?
A percentage-based increase in premiums.
ExplanationLate enrollment incurs premium increase.
#8
What percentage of Medicare beneficiaries are enrolled in Medicare Advantage plans?
Over 40%
ExplanationOver 40% of beneficiaries are enrolled.
#9
Which of the following is a key feature of Medicare Advantage plans?
Guaranteed renewal regardless of health status
ExplanationGuaranteed renewal despite health.
#10
What is the maximum out-of-pocket limit for Medicare Advantage plans in 2024?
$6,700
ExplanationMax out-of-pocket: $6,700.
#11
Which of the following individuals is eligible to enroll in a Medicare Advantage plan?
An 80-year-old US citizen
ExplanationAn 80-year-old US citizen is eligible.
#12
Which of the following is NOT a type of Medicare Advantage plan?
Medicare Supplement Insurance (Medigap)
ExplanationMedigap isn't a type of MA plan.
#13
What is the term used for the process of switching from Original Medicare to a Medicare Advantage plan?
Medicare Conversion
ExplanationSwitching to MA: Medicare Conversion.
#14
Which of the following is NOT a reason why someone might choose a Medicare Advantage plan over Original Medicare?
Guaranteed issue rights for Medigap policies
ExplanationNo guaranteed issue rights for Medigap.
#15
What is the star rating system used for Medicare Advantage plans?
To rank plans based on customer satisfaction and quality
ExplanationStar ratings based on satisfaction.
#16
Which federal program is NOT integrated with Medicare Advantage plans?
Medicare Part D
ExplanationMedicare Part D isn't integrated.
#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.
ExplanationHMOs require referrals for specialists.