Deck 11: Long-Term Care

Question 1

MATCHING

A policy that pays a fixed monetary benefit,usually per day,for a designated benefit period during which the insured generally receives care at home or in a nursing home

Answer 1

G

Question 2

MATCHING

A residential institution that provides care and services for the elderly or infirm

Answer 2

A

Question 3

People with high incomes and assets generally have no need for long-term care insurance.

Answer 3

True

Question 4

MATCHING

A form of public assistance that provides medical aid for people who have income and assets below a certain level

Question 5

MATCHING

The time that people must wait from the date they are certified as chronically ill until the date on which benefit payments for covered services begin

Question 6

MATCHING

A federal program that provides hospital and medical insurance for people age 65 and older

Question 7

An agent is required to help with the purchase of long-term care insurance.

Question 8

MATCHING

A federal program that makes monthly payments based on need to people age 65 or older who have low income and few assets

Question 9

A long-term care insurance policy can include an option to notify a third party if the policy is about to lapse for nonpayment.

Question 10

MATCHING

A provision in a long-term care insurance policy that allows the insured to stop paying premiums once benefits are received

Question 11

Reverse mortgages are recommended for most people to help pay for long-term care.

Question 12

Since baby boomers are generally wealthier and better educated than their counterparts of today,there will be far less need for them to plan for long-term care.

Question 13

If a person wants to buy long-term care insurance,he or she should buy a policy that covers both in- home and nursing home care.

Question 14

MATCHING

A community residential living arrangement that provides individual personal care and health services for people who need help with activities of daily living

Question 15

MATCHING

A feature that returns a portion of the premiums if the insured cancels the insurance policy or allows it to lapse

Question 16

Medicaid Part A pays for outpatient hospital care.

Question 17

MATCHING

A federal program that provides benefits for eligible workers when they retire

Question 18

Everyone needs a will.

Question 19

MATCHING

An option that provides for increases in benefit amounts to help pay for expected future increases in the costs of long-term care services

Question 20

Most insurance companies pay benefits to family members who care for loved ones at home.

Question 21

Which is the LEAST reliable and complicated way to pay for long-term care?

A)Using a reverse mortgage on the home owned by the person needing care
B)Buying long-term care insurance
C)Accelerating the death benefits from life insurance
D)Borrowing from the cash value of a whole life insurance policy

Question 22

Which is a Medicare qualified facility that specializes in skilled care or rehabilitation services under the supervision of licensed nurses and based on a doctor's orders?

A)Skilled nursing facility
B)Nursing home
C)Assisted living facility
D)Continuing care retirement community

Question 23

One purpose of long-term care insurance is to leave an inheritance to the family.

Question 24

What was the amount of monthly checks for an individual receiving the basic SSI monthly benefit in 2010?

A)About $675
B)About $1,000
C)About $300
D)About $1,300

Question 25

To receive a Supplemental Security Income SSI)basic monthly benefit,a person must:

A)Be a United States resident
B)Have contributed to Social Security by working throughout their adult lives
C)Not be eligible for food stamps,Medicaid,or Social Security
D)Be 62 years old or older

Question 26

Medicare Advantage Plans that are available in all states include all of the following EXCEPT:

A)Medicare Cost Plans
B)Health maintenance organizations
C)Preferred provider organizations
D)Private fee-for-service plans

Question 27

Medicare Part A would pay for which of the following?

A)Inpatient care in a skilled nursing facility following a required three-day hospital stay
B)Prescription medications
C)Medicare Advantage Plans
D)Outpatient hospital care

Question 28

Which of the following is NOT one of the six activities of daily living?

A)Reading
B)Dressing
C)Continence
D)Transferring

Question 29

All of the following are features of Social Security EXCEPT:

A)Social Security pays benefits based on financial need.
B)It is funded by taxes paid by workers,employers,and self-employed people.
C)It provides benefits to retired workers,people who are disabled,and dependents of deceased and disabled workers.
D)At the end of 2027,the retirement age with full benefits will rise to 67 years of age.

Question 30

Which of the following is NOT covered by Medicare?

A)Long-term care expenses in a nursing home or at home
B)Hospice care
C)Prescription drugs
D)Physician services

Question 31

Which of the following is NOT covered by Medicare Part B?

A)Hospice care
B)Durable medical equipment
C)Diagnostic tests
D)Necessary ambulance services