CMS Medicare Specialist Benefits & Drug Coverage

Question 1

Which Medicare part provides outpatient prescription drug coverage?

Accepted Answer

Part D

Answer

Part A

Answer

Part B

Answer

Part C

Question 2

What is a Medicare Part D formulary?

Accepted Answer

A list of covered prescription drugs

Answer

A schedule of premium payments

Answer

A network of pharmacies

Answer

A list of covered medical procedures

Question 3

What does the Low Income Subsidy (LIS) program help Medicare beneficiaries with?

Accepted Answer

Part D premiums, deductibles, and co-pays

Answer

Hospital co-pays

Answer

Part A enrollment fees

Answer

Supplemental vision coverage

Question 4

During the Medicare Part D Initial Coverage Period, a beneficiary pays their plan's cost-sharing until total drug costs reach what threshold (2024)?

Accepted Answer

$5,030

Answer

$545

Answer

$1,000

Answer

$8,000

Question 5

Which of the following is NOT a standard Part D coverage phase?

Accepted Answer

Extended Benefit Period

Answer

Deductible Phase

Answer

Initial Coverage Period

Answer

Coverage Gap

Question 6

What is the maximum standard Part D deductible for 2024?

Accepted Answer

$545

Answer

$100

Answer

$240

Answer

$800