CFG Social Security & Government Benefits for Older Adults 2

Question 1

What is the Medicare enrollment period for individuals who are not automatically enrolled and must sign up on their own?

Accepted Answer

A 7-month Initial Enrollment Period centered on their 65th birthday month

Answer

A 3-month window starting the month of their 65th birthday

Answer

A 12-month open enrollment beginning January 1 each year

Answer

A 6-month Special Enrollment Period after retirement

Question 2

Which part of Medicare covers inpatient hospital stays, skilled nursing facility care, and hospice services?

Accepted Answer

Medicare Part A

Answer

Medicare Part B

Answer

Medicare Part C

Answer

Medicare Part D

Question 3

The Medicare Part B late enrollment penalty adds what percentage per year for each full 12-month period of delayed enrollment?

Accepted Answer

10%

Answer

5%

Answer

15%

Answer

20%

Question 4

Which Medicare Savings Program helps cover Medicare Part B premiums for qualifying low-income beneficiaries?

Accepted Answer

Qualified Medicare Beneficiary (QMB) program

Answer

Extra Help program

Answer

PACE program

Answer

SHIP program

Question 5

Under Medicaid eligibility rules, what is the term for the minimum amount a community spouse may retain from the couple's combined assets?

Accepted Answer

Community Spouse Resource Allowance (CSRA)

Answer

Minimum Monthly Maintenance Needs Allowance (MMMNA)

Answer

Spousal Impoverishment Protection

Answer

Asset Transfer Exemption

Question 6

What is the Medicaid 'look-back period' that reviewers examine for asset transfers made below fair market value?

Accepted Answer

60 months

Answer

12 months

Answer

24 months

Answer

36 months

Question 7

Which federal program provides prescription drug coverage to Medicare beneficiaries?

Accepted Answer

Medicare Part D

Answer

Medicare Part A

Answer

Medicare Part B

Answer

Medicare Part C