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Planning Beginner: Introduction to Medicare

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1.
Medicare Part A covers _______.
Choose wisely. There is only one correct answer.
Inpatient hospital care. Part A covers this as well as skilled nursing facilities, hospice, and home health care.
2.
Medicare Part D covers _______.
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Prescription drugs. Part D helps cover the cost of outpatient prescription drugs through private insurance plans.
3.
Which part of Medicare is funded by tax revenue?
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Part A. Part A, which covers inpatient care, is funded by a 2.9% payroll tax. The others are funded primarily by Medicare enrollees themselves.
4.
When is the best time for most people to buy a Medigap policy?
Choose wisely. There is only one correct answer.
During the open enrollment period, because the company must sell them a policy. For most people, it probably doesn't make sense to delay.
5.
Medigap policies help pay Medicare coinsurance, copayments, deductibles, and a portion of basic living expenses.
Choose wisely. There is only one correct answer.
False. These policies help pay coinsurance, copayments, and deductibles, but not living expenses.