CRPC - Chartered Retirement Planning Counselor Navigating Retirement Healthcare Questions and Answers

Question 1

A 65-year-old client is covered by her employer's high-deductible health plan (HDHP) and actively contributes to a Health Savings Account (HSA).
She plans to keep working and wants to continue making HSA contributions.
What is the MOST accurate advice regarding Medicare enrollment?

Accepted Answer

She should delay enrollment in both Medicare Part A and Part B.

Answer

She must enroll in Medicare Part A since it is premium-free for most people.

Answer

She can enroll in Medicare Part B but must delay Part A.

Answer

Enrolling in any part of Medicare has no impact on her ability to contribute to an HSA.

Question 2

A CRPC® is explaining healthcare funding in retirement to a client. The client believes that Medicare will cover a long-term stay in an assisted living facility if she needs help with activities of daily living like bathing and dressing. Which of the following statements is the MOST accurate clarification?

Accepted Answer

Medicare does not cover long-term custodial care; its coverage is limited to short-term, skilled nursing care following a qualifying hospital stay.

Answer

Medicare Part A fully covers the first 100 days of any nursing home stay, regardless of the type of care needed.

Answer

A Medigap policy is specifically designed to pay for long-term custodial care when Medicare does not.

Answer

Medicaid will automatically cover all long-term care costs for anyone enrolled in Medicare, without an asset test.

Question 3

An individual failed to enroll in a Medicare Part D prescription drug plan during their Initial Enrollment Period and did not have other creditable drug coverage for 20 full months. How will the late enrollment penalty be calculated when they eventually sign up?

Accepted Answer

A permanent addition to their monthly premium equal to 1% of the national base beneficiary premium for each month of delay.

Answer

A one-time fee equal to 20% of their first year's premium.

Answer

A 10% increase to their monthly premium for the first two years of coverage.

Answer

The penalty is waived, as it only applies after a delay of 24 months or more.

Question 4

A client is turning 65 and enrolling in Medicare Part B for the first time. They have several pre-existing health conditions and want to purchase a Medigap (Medicare Supplement) policy. To ensure guaranteed issue rights, when is the best time for them to apply?

Accepted Answer

During their one-time, 6-month Medigap Open Enrollment Period, which starts the month they are 65 or older and enrolled in Part B.

Answer

During the annual Medicare Open Enrollment Period from October 15th to December 7th.

Answer

At any time, as Medigap insurers are prohibited from using medical underwriting.

Answer

They must wait until they have been enrolled in Medicare for one full year.

Question 5

A 62-year-old client is retiring early and losing her employer's health coverage. When comparing continuing her plan through COBRA versus buying a plan on the ACA Marketplace, what is a primary advantage of choosing a Marketplace plan?

Accepted Answer

She may be eligible for income-based premium tax credits and subsidies.

Answer

Marketplace plans are the only option that covers pre-existing conditions.

Answer

The provider network for Marketplace plans is always larger than for COBRA plans.

Answer

COBRA coverage is limited to 12 months, while Marketplace plans provide longer coverage.

Question 6

When comparing Original Medicare (Parts A & B) with a Medicare Advantage (Part C) plan, which of the following is a key feature UNIQUE to Medicare Advantage plans?

Accepted Answer

An annual out-of-pocket maximum for covered medical services.

Answer

Coverage for inpatient hospital stays and doctor visits.

Answer

The ability to see any doctor in the U.S. that accepts Medicare.

Answer

Coverage throughout the United States without network restrictions.

A 65-year-old client is covered by her employer's high-deductible health plan (HDHP) and actively contributes to a Health Savings Account (HSA).She plans to keep working and wants to continue making HSA contributions.What is the MOST accurate advice regarding Medicare enrollment?

A 65-year-old client is covered by her employer's high-deductible health plan (HDHP) and actively contributes to a Health Savings Account (HSA).
She plans to keep working and wants to continue making HSA contributions.
What is the MOST accurate advice regarding Medicare enrollment?