Deck 15: Long-Term Care

Question 1

MATCHING:
a.nursing home
b.assisted living facility
c.Social Security
d.Supplemental Security Income
e.Medicare
f.Medicaid
g.long-term care insurance
h.inflation protection
i.nonforfeiture benefit
j.waiver of premium payment
k.elimination period
A federal program that provides benefits for eligible workers when they retire

Answer 1

C

Question 2

MATCHING:
a.nursing home
b.assisted living facility
c.Social Security
d.Supplemental Security Income
e.Medicare
f.Medicaid
g.long-term care insurance
h.inflation protection
i.nonforfeiture benefit
j.waiver of premium payment
k.elimination period
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

Answer 2

K

Question 3

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

Answer 3

True

Question 4

MATCHING:
a.nursing home
b.assisted living facility
c.Social Security
d.Supplemental Security Income
e.Medicare
f.Medicaid
g.long-term care insurance
h.inflation protection
i.nonforfeiture benefit
j.waiver of premium payment
k.elimination period
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 5

MATCHING:
a.nursing home
b.assisted living facility
c.Social Security
d.Supplemental Security Income
e.Medicare
f.Medicaid
g.long-term care insurance
h.inflation protection
i.nonforfeiture benefit
j.waiver of premium payment
k.elimination period
A provision in a long-term care insurance policy that allows the insured to stop paying premiums once benefits are received

Question 6

The government pays for all nursing home care expenses.

Question 7

MATCHING:
a.nursing home
b.assisted living facility
c.Social Security
d.Supplemental Security Income
e.Medicare
f.Medicaid
g.long-term care insurance
h.inflation protection
i.nonforfeiture benefit
j.waiver of premium payment
k.elimination period
A community residential living arrangement that provides individual personal care and health services for people who need help with activities of daily living

Question 8

MATCHING:
a.nursing home
b.assisted living facility
c.Social Security
d.Supplemental Security Income
e.Medicare
f.Medicaid
g.long-term care insurance
h.inflation protection
i.nonforfeiture benefit
j.waiver of premium payment
k.elimination period
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

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

Medicaid Part A pays for outpatient hospital care.

Question 11

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

Question 12

MATCHING:
a.nursing home
b.assisted living facility
c.Social Security
d.Supplemental Security Income
e.Medicare
f.Medicaid
g.long-term care insurance
h.inflation protection
i.nonforfeiture benefit
j.waiver of premium payment
k.elimination period
A feature that returns a portion of the premiums if the insured cancels the insurance policy or allows it to lapse

Question 13

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

Question 14

MATCHING:
a.nursing home
b.assisted living facility
c.Social Security
d.Supplemental Security Income
e.Medicare
f.Medicaid
g.long-term care insurance
h.inflation protection
i.nonforfeiture benefit
j.waiver of premium payment
k.elimination period
A form of public assistance that provides medical aid for people who have income and assets below a certain level

Question 15

MATCHING:
a.nursing home
b.assisted living facility
c.Social Security
d.Supplemental Security Income
e.Medicare
f.Medicaid
g.long-term care insurance
h.inflation protection
i.nonforfeiture benefit
j.waiver of premium payment
k.elimination period
A federal program that makes monthly payments based on need to people age 65 or older who have low income and few assets

Question 16

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

Question 17

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

Question 18

MATCHING:
a.nursing home
b.assisted living facility
c.Social Security
d.Supplemental Security Income
e.Medicare
f.Medicaid
g.long-term care insurance
h.inflation protection
i.nonforfeiture benefit
j.waiver of premium payment
k.elimination period
A residential institution that provides care and services for the elderly or infirm

Question 19

MATCHING:
a.nursing home
b.assisted living facility
c.Social Security
d.Supplemental Security Income
e.Medicare
f.Medicaid
g.long-term care insurance
h.inflation protection
i.nonforfeiture benefit
j.waiver of premium payment
k.elimination period
A federal program that provides hospital and medical insurance for people age 65 and older

Question 20

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 21

What was the amount of monthly checks for an individual receiving the basic SSI monthly benefit in 2015?

A)About $300
B)About $1,000
C)About $733
D)About $1,300

Question 22

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

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

Question 23

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

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

Question 24

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

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

Question 25

Medicare Part A would pay for which of the following?

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

Question 26

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 27

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 28

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

A)Be 62 years old or older
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 a U.S.resident

Question 29

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

Question 30

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

Question 31

Which of the following is NOT covered by Medicare?

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