#1
What is the initial enrollment period for Medicare?
6 months
ExplanationThe initial enrollment period for Medicare is a 6-month window that begins three months before the individual turns 65 and ends three months after.
#2
Which of the following is NOT a part of Medicare?
Part E
ExplanationPart E is not a part of Medicare; the parts include A, B, C, and D, each covering different aspects of healthcare.
#3
What is the penalty for late enrollment in Medicare Part B?
$20 per month
ExplanationThe penalty for late enrollment in Medicare Part B is $20 per month for every 12-month period of delayed enrollment.
#4
Which of the following individuals is automatically enrolled in Medicare?
A 65-year-old who is receiving Social Security benefits
ExplanationA 65-year-old receiving Social Security benefits is automatically enrolled in Medicare, starting on the first day of the month they turn 65.
#5
What is the difference between Medicare Part A and Part B?
Part A covers inpatient hospital care, while Part B covers outpatient medical services.
ExplanationMedicare Part A covers inpatient hospital care, while Part B covers outpatient medical services, creating a comprehensive healthcare coverage.
#6
When can you enroll in Medicare Advantage?
During the Special Enrollment Period (SEP)
ExplanationEnrollment in Medicare Advantage can occur during the Special Enrollment Period (SEP), providing flexibility outside of the initial enrollment period.
#7
What is the Medicare Annual Enrollment Period (AEP)?
A period when individuals can make changes to their Medicare coverage.
ExplanationThe Medicare Annual Enrollment Period (AEP) allows individuals to make changes to their Medicare coverage, such as switching plans or adding coverage options.
#8
Who is eligible for Medicare Part D?
All Medicare beneficiaries
ExplanationMedicare Part D eligibility extends to all Medicare beneficiaries, providing prescription drug coverage to enhance overall healthcare.
#9
What is the Special Enrollment Period (SEP) for Medicare?
A period when individuals can enroll in Medicare outside of the initial enrollment period
ExplanationThe Special Enrollment Period (SEP) for Medicare is a time when individuals can enroll in Medicare outside of the initial enrollment period under certain qualifying circumstances.
#10
Which of the following is TRUE about Medigap policies?
They are sold by private insurance companies to help pay for costs not covered by Original Medicare.
ExplanationMedigap policies, sold by private insurance companies, help cover costs not included in Original Medicare, offering additional financial protection.
#11
What is the income-related monthly adjustment amount (IRMAA) for Medicare?
A premium that some people have to pay in addition to their Medicare Part B premium
ExplanationIRMAA for Medicare is an income-related premium adjustment that some beneficiaries must pay on top of their standard Medicare Part B premium.
#12
How does Medicaid work with Medicare?
Medicaid can help pay for Medicare premiums, deductibles, and copayments.
ExplanationMedicaid can provide financial assistance by covering Medicare premiums, deductibles, and copayments for eligible individuals.
#13
What is the late enrollment penalty for Medicare Part D?
5% of the national base beneficiary premium for each full, uncovered month you didn’t have Part D or creditable prescription drug coverage
ExplanationThe late enrollment penalty for Medicare Part D is 5% of the national base beneficiary premium for each full, uncovered month without Part D or creditable prescription drug coverage.
#14
What is the difference between Medicare Part C and Medigap?
Medicare Part C is an alternative to Original Medicare offered by private insurance companies, while Medigap is supplemental insurance that helps cover the gaps in Original Medicare.
ExplanationMedicare Part C is an alternative to Original Medicare, offered by private insurance companies, whereas Medigap is supplemental insurance addressing gaps in Original Medicare coverage.