Question ID: 1620958 Roy is 30 years old. How many credits does he need to be fully insured by Social Security? A) 8 B) 40 C) 10 D) 6
Added by Michelle Z.
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To be fully insured, a person generally needs to earn a certain number of credits through work and paying Social Security taxes. Show more…
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Rachel G.
22. Neal, 90, otherwise in good health, discovers he is no longer able to dress or bathe himself without assistance. His family doctor prescribes a plan for home health care, but Neal has no available family caregiver. Would these facts result in the payment of benefits by most long-term care insurance policies? a. Yes, because of his extreme age. b. No, because this sort of condition is to be expected in the elderly and is not technically a health issue. c. Yes, because the need for assistance with two or more ADLs is a benefit trigger in most LTC policies. d. No, because he seems otherwise in good health. 23. The elimination period under Ruth's LTCI policy is 30 days, while Rebecca's policy specifies an elimination period of 180 days. Everything else being equal, what can be expected regarding their respective premiums? a. Ruth's premium will be higher than Rebecca's. b. Rebecca's premium will be higher than Ruth's. c. Rebecca's premium will decline over the term of her policy. d. The length of the elimination period has no bearing on an LTCI policy's premium. 24. Patricia has become unable to perform several ADLs, but before a determination can be made regarding her qualifications to receive long-term care insurance benefits, the insurer requires that her physician create a written plan of care. What role is Patricia's doctor taking? a. gatekeeper b. custodian c. responsible party d. fiduciary
Adi S.
14. Abby is a passenger in an automobile that is struck by a drunk driver. She suffers severe trauma to the head, which results in a substantially reduced ability to render safe judgments. Though Abby is able to go about her activities of daily living, her condition is permanent, and she must be supervised much of the time. Should this set of conditions normally qualify for benefits under a qualified long-term care policy? a. Yes, because it is a loss of cognitive function. b. No, because she can carry out her ADLs unassisted, and ADL impairment is required under an LTC policy. c. Yes, because this would loosely fall into the category of "medically necessary care." d. No, because this type of condition is covered by disability insurance. 15. Franklin owns a qualified LTC partnership policy that will provide for $250,000 in lifetime benefits. With this policy, which of the following are specifically protected from Medicaid's spend-down rules that would otherwise not be protected? a. his $175,000 home b. his $200,000 investment portfolio c. his annual $5,000 in dividend income d. his $1,000 in monthly Social Security retirement income benefits 16. This year, Ruben purchased a partnership-qualified LTC insurance policy with maximum lifetime benefits of $200,000. His countable assets total $300,000. Under his state's Medicaid program, he would be permitted to keep up to $2,000 in countable assets if he were to qualify for Medicaid. Ruben has a stroke, lapses into a coma, and requires long-term care services. The cost of his care exceeds the policy's maximum benefit amount, and he must apply to Medicaid. What is the total amount of Ruben's personal countable assets that would be exempt from Medicaid's spend-down requirement? a. $2,000 b. $200,000 c. $202,000 d. $300,000 17. All of the following insureds purchased a long-term care insurance policy after 2000. Based solely on the information given, who does not own a tax-qualified LTCi policy? a. Barry's LTCi policy offers no nonforfeiture benefit b. Ashley's LTCi policy began to pay after 90 days of incontinence and the inability to eat unaided. c. Emily's policy began to pay after 90 days of being unable to bathe or dress unaided.
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