Medicare Advantage Plans and Compliance in Sales Practices Quiz
Explore Medicare Advantage Plans: Compliance, Sales Practices, Eligibility, and Benefits. Get ready for the open enrollment period!
#1
Which of the following is a key characteristic of Medicare Advantage Plans?
They are administered by private insurance companies approved by Medicare.
They are managed by the federal government directly.
They exclusively cover prescription drug costs.
They are available only to individuals over 75 years old.
#2
What is the main purpose of Medicare Advantage Plans?
To provide supplemental coverage for Medicare Parts A and B.
To offer an alternative to Original Medicare, providing all Part A and Part B benefits through a private insurer.
To replace the need for Medicare altogether.
To offer coverage exclusively for prescription drugs.
#3
Which of the following is NOT a requirement for Medicare Advantage Plans?
Coverage for emergency services.
Coverage for preventive services.
Coverage for long-term care services.
Coverage for prescription drugs.
#4
What is the annual election period for Medicare Advantage Plans?
January 1 - March 31
October 15 - December 7
April 1 - June 30
August 1 - September 30
#5
What is the maximum out-of-pocket limit for Medicare Advantage Plans in 2024?
$5,000
$6,700
$10,000
$15,000
#6
Which of the following statements regarding compliance in sales practices for Medicare Advantage Plans is true?
Sales agents are not required to comply with any specific regulations.
Sales agents must follow strict guidelines outlined by the Centers for Medicare & Medicaid Services (CMS).
Sales agents are allowed to use deceptive practices to enroll beneficiaries.
Compliance with sales practices is solely the responsibility of the beneficiaries.
#7
What is the penalty for non-compliance with sales practices regulations for Medicare Advantage Plans?
Fines imposed on beneficiaries.
Revocation of Medicare Advantage Plan coverage for the beneficiary.
Criminal charges against the beneficiary.
Sanctions against the insurance company and sales agents.
#8
Which of the following individuals is NOT eligible for a Medicare Advantage Plan?
An individual with end-stage renal disease (ESRD) requiring dialysis.
An individual enrolled in Medicare Parts A and B.
An individual living in a nursing home.
An individual who is a U.S. citizen or legal resident.
#9
What is the purpose of a Special Enrollment Period (SEP) for Medicare Advantage Plans?
To allow beneficiaries to switch from a Medicare Advantage Plan to Original Medicare.
To allow beneficiaries to enroll or make changes to their Medicare Advantage coverage outside of the initial enrollment periods.
To provide additional coverage for beneficiaries with end-stage renal disease.
To offer coverage exclusively for dental and vision services.
#10
In which month does the Annual Notice of Change (ANOC) typically arrive for Medicare Advantage Plan enrollees?
January
March
September
November
#11
Which organization oversees compliance with sales practices regulations for Medicare Advantage Plans?
Federal Bureau of Investigation (FBI)
Department of Health and Human Services (HHS)
Centers for Medicare & Medicaid Services (CMS)
United States Department of Agriculture (USDA)
#12
Which of the following is NOT a type of Medicare Advantage Plan?
Health Maintenance Organization (HMO)
Preferred Provider Organization (PPO)
Medicare Savings Account (MSA)
Medigap Supplement Plan
#13
Which of the following statements regarding out-of-network coverage in Medicare Advantage Plans is true?
Medicare Advantage Plans do not provide coverage for out-of-network services.
Out-of-network coverage is provided at the same cost-sharing levels as in-network services.
Out-of-network services are covered only in emergency situations.
Coverage for out-of-network services varies depending on the specific plan.
#14
Which of the following is NOT a factor to consider when comparing Medicare Advantage Plans?
Premiums
Network of doctors and hospitals
Deductibles and copayments
Enrollment period
#15
Which of the following is a factor that can affect the cost of a Medicare Advantage Plan?
Marital status
Occupation
Number of dependents
Income level
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