Home > Planning > Beginner
Planning Beginner: Introduction to Medicare

Test your knowledge

Choose wisely. There is only one correct answer to each question.

0%
Keep studying!
Review your answers below to learn more.
1.
What is the income limit on which Medicare tax is paid?
Choose wisely. There is only one correct answer.
There is no limit. Unlike the Social Security tax, there is no ceiling on the income on which the Medicare tax is paid.
2.
When does open enrollment for Medigap normally begin?
Choose wisely. There is only one correct answer.
The month you turn 65 and are enrolled in Medicare Part B. It automatically begins then.
3.
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.
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.