Latrice just turned 65. During her life's financial journey she has accumulated a sizable nest egg. At this time she does not have a long-term care insurance policy. Which of the following governmental programs can she enroll in to cover all of her long-term care needs? O Medicare. O Medicaid. O Obamacare. O There is not a government program that Latrice can enroll in that will cover all of her long-term care needs.
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The question asks which government program can cover Latrice's long-term care needs. The options are Medicare, Medicaid, Obamacare, and "no government program." Show more…
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26. Ricardo has been in and out of rehab because of his addiction to alcohol, some of his stays lasting for months. Will Ricardo's LTCI policy cover his repeated institutionalization? a. Yes, because it is a chronic condition. b. No, because LTCI insurance doesn't pay for any sort of rehabilitation. c. Yes, because there is a legitimate long-term need. d. Probably not, because treatment for drug or alcohol addiction is an exclusion in most LTCI policies. 27. Which LTCI policy feature prevents the insurer from terminating the policy, raising the rates, or making changes in any provisions based on the health of the insured while the policy is in force? a. restoration of benefits provision b. nonforfeiture provision c. guaranteed renewability provision d. return of premium provision 28. A few years ago, Gary purchased a long-term care partnership policy. He had paid a total of $7,000 in premiums when he made claim for benefits. The policy paid out its full $200,000 benefit. If Gary needs to turn to Medicaid for continued payment of his long-term care costs, how much of his assets will be protected from the spend-down requirement due to his partnership policy? a. $7,000 b. $193,000 c. $200,000 d. $207,000 29. All of the following statements regarding today's long-term care partnership programs are true EXCEPT: a. they are intended to help alleviate the financial burden on state Medicaid programs b. they require that individuals purchase a qualified long-term care partnership policy c. they are designed to protect all of an individual's assets and income from the Medicaid spend-down requirement d. they do not guarantee that an individual who purchased a policy will qualify for Medicaid benefits
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Long-term care for the elderly involves helping individuals with activities (such as bathing, dressing, and toileting) that they cannot perform for themselves. How were these needs taken care of a century ago? Explain why moral hazard and adverse selection make long-term-care insurance so expensive today that few people choose to buy it.
Pronoy S.
1. Which of the following is correct? Part A is Hospital Insurance Part B is Medicare Prescription Drug Coverage Part C is Medical Insurance Part D is Medicare Advantage Plans (like HMOs and PPOs) 2. John is 65 years old with a history of diabetes, arthritis, and chronic back pain. He has signed up for Part B. He is currently in his Medigap Open Enrollment Period. John knows that during this time his insurance company can do which of the following: Use medical underwriting Sell him any Medigap plan they offer Charge him more for a Medigap policy than they charge someone with no health problems Make him wait for coverage to start 3. Which statement about Medicare is accurate? It is a health insurance program for people aged 65 and older People of any age who have End-Stage Renal Disease (ESRD) are eligible It is administered by each state individually It covers prescription drugs only 4. Janet was recently diagnosed with pneumonia exacerbated by her COPD and will need therapy at a Skilled Nursing Facility (SNF) before returning home. Which part of Medicare will help pay for her skilled nursing facility care? Part A Part B Part C Part D 5. Susan has recently had a stroke and is being discharged from the hospital. She would like to go home with home health services. She would like Medicare Part B to pay for this service. Which of the following would disqualify Susan from being eligible to be covered for these services? She requires skilled care on an intermittent basis She is under the care of her doctor She will be able to leave the house for small errands She will have a face-to-face encounter with her doctor prior to being discharged home 6. Which term describes your doctor, provider, or supplier agreeing to accept the Medicare-approved amount as full payment for covered services? Creditable Coverage Assignment Copayment Agreement Guaranteed Payout
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