#1
Which part of Medicare offers prescription drug coverage?
Part D
ExplanationMedicare Part D provides prescription drug coverage.
#2
What is the purpose of Medicare Part D?
Providing prescription drug coverage
ExplanationMedicare Part D is designed to offer coverage for prescription drugs.
#3
What is the Initial Enrollment Period (IEP) for Medicare Part D?
The period when you turn 65 and first become eligible for Medicare
ExplanationThe Initial Enrollment Period for Medicare Part D is when individuals turn 65 and become eligible for Medicare.
#4
What is the purpose of the Medicare Prescription Drug Plan Finder tool?
To assist in choosing a Medicare Part D plan based on individual drug needs
ExplanationThe Medicare Prescription Drug Plan Finder tool helps in selecting a Medicare Part D plan based on individual drug needs.
#5
What is the Medicare Part D late enrollment penalty?
A fee charged to individuals who enroll in Medicare Part D after their Initial Enrollment Period if they do not have creditable prescription drug coverage
ExplanationThe Medicare Part D late enrollment penalty is a fee for individuals enrolling after the Initial Enrollment Period without creditable prescription drug coverage.
#6
What is creditable prescription drug coverage?
Prescription drug coverage that is as good as or better than Medicare Part D coverage
ExplanationCreditable prescription drug coverage is coverage as good as or better than Medicare Part D.
#7
What is the 'donut hole' in Medicare Part D coverage?
A coverage gap where beneficiaries pay more for drugs
ExplanationThe 'donut hole' in Medicare Part D is a coverage gap where beneficiaries face higher costs for drugs.
#8
Which of the following is not a factor to consider when choosing a Medicare Part D plan?
Length of hospital stay coverage
ExplanationThe length of hospital stay coverage is not a factor in choosing a Medicare Part D plan.
#9
What does the 'coverage gap' (donut hole) in Medicare Part D refer to?
A gap in coverage where beneficiaries pay more for drugs until catastrophic coverage kicks in
ExplanationThe 'coverage gap' in Medicare Part D is a period where beneficiaries pay more for drugs until catastrophic coverage begins.
#10
What is the difference between Medicare Part D and Medicare Advantage?
Medicare Part D covers prescription drugs, while Medicare Advantage provides all-in-one coverage including hospital, medical, and sometimes prescription drug coverage.
ExplanationMedicare Part D focuses on prescription drug coverage, whereas Medicare Advantage offers comprehensive coverage including hospital, medical, and sometimes prescription drug coverage.
#11
What is the purpose of the Medicare Part D Summary Rating?
To assess the quality and performance of Medicare Part D plans based on various factors such as customer service, drug pricing, and patient safety
ExplanationThe Medicare Part D Summary Rating evaluates the quality and performance of plans, considering factors like customer service, drug pricing, and patient safety.
#12
What is catastrophic coverage in Medicare Part D?
Coverage for prescription drugs not covered during the initial coverage phase or the coverage gap (donut hole)
ExplanationCatastrophic coverage in Medicare Part D includes drugs not covered during the initial coverage phase or the coverage gap.
#13
What is the Extra Help program regarding Medicare Part D?
A program offering financial assistance for prescription drug costs
ExplanationThe Extra Help program provides financial assistance for prescription drug costs under Medicare Part D.
#14
What are some factors to consider when choosing a Medicare Part D plan?
The plan's formulary, premium, deductible, and copay/coinsurance
ExplanationFactors to consider when choosing a Medicare Part D plan include the plan's formulary, premium, deductible, and copay/coinsurance.
#15
What is the Low-Income Subsidy (LIS) program in relation to Medicare Part D?
A program providing financial assistance for Medicare Part D premiums and drug costs to individuals with limited income and resources
ExplanationThe Low-Income Subsidy (LIS) program offers financial assistance for Medicare Part D premiums and drug costs to individuals with limited income and resources.
#16
What is the Special Enrollment Period (SEP) in Medicare Part D?
A period when beneficiaries can enroll in or change Medicare Part D plans outside of the Initial Enrollment Period
ExplanationThe Special Enrollment Period (SEP) in Medicare Part D allows beneficiaries to enroll in or change plans outside of the Initial Enrollment Period.
#17
What is the Medicare Part D Special Enrollment Period (SEP) for individuals who lose their Extra Help?
They can enroll in a Part D plan within 2 months of losing Extra Help
ExplanationIndividuals who lose Extra Help can enroll in a Medicare Part D plan within 2 months through the Special Enrollment Period (SEP).