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Planning Beginner: Introduction to Medicare

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1.
Medicare Part D covers _______.
Choose wisely. There is only one correct answer.
Prescription drugs. Part D helps cover the cost of outpatient prescription drugs through private insurance plans.
2.
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.
3.
Medigap policies _______ cover your share of costs under other health coverage policies.
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Do not. Medigap policies do not cover them.
4.
What is the risk of buying a Medigap policy after the open enrollment period for it has ended?
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The insurance company is allowed to charge you more if you have health problems. This is why it is best to buy during open enrollment.
5.
Medicare Part C is known as Medicare Advantage, and is an alternative means of delivering the care and services provided by Medicare Parts A and B.
Choose wisely. There is only one correct answer.
True. Medicare Advantage provides coverage through Medicare-approved private insurance companies.