Understanding Medicare Coverage and Options Quiz

Medicare Part A covers inpatient hospital stays and limited skilled nursing facility care.

Eligibility for Medicare includes most U.S. citizens or legal residents aged 65 or older, and some younger individuals with disabilities or specific health conditions.

Medicare Part D provides coverage for prescription drugs.

The Centers for Medicare & Medicaid Services (CMS) administers the Medicare program.

The 'coverage gap' in Medicare Part D is also referred to as the 'Donut hole.'

Medicare typically does not cover elective cosmetic surgery.

Medicare Part B provides coverage for preventive and medically necessary services.

Medicare Part C, or Medicare Advantage, offers combined coverage from Part A and B with potential additional benefits.

The 'coverage gap' in Medicare Part D is a phase where beneficiaries pay more for their prescription drugs.

Medigap plans supplement Original Medicare by covering certain out-of-pocket costs such as copayments, coinsurance, and deductibles.

Custodial care is not typically covered by Medicare.

The Initial Enrollment Period (IEP) is the period during which individuals can first enroll in Medicare.

Medicare Part B and Part D may have an income-based surcharge for individuals whose income surpasses a specific threshold.

The 'Part D late enrollment penalty' is a charge imposed for joining Medicare Part D after the Initial Enrollment Period (IEP) has concluded.

Medicare Part B may have an income-based premium adjustment for individuals with incomes surpassing a specific threshold.

The income threshold for the income-based premium adjustment for Medicare Part B is $85,000 for individuals and $170,000 for couples.