Navigating Retirement Healthcare Flashcards
7 cards from real CRPC practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.
Read the first 7 Navigating Retirement Healthcare flashcards as text
What is the Medicaid look-back period for nursing home eligibility, and what is the consequence of violating it?
Answer: 60 months; applicant faces a penalty period of ineligibility proportional to transferred assets
Medicaid reviews asset transfers made within 60 months of application; improper transfers create a penalty period during which Medicaid will not pay for nursing home care.
Which healthcare inflation rate assumption is most commonly recommended when projecting retirement healthcare costs over a 20-year horizon?
Answer: Higher than general CPI, typically 5–7% annually
Healthcare costs historically inflate faster than general inflation, typically 5–7% annually, so projections must use a higher rate to avoid underestimating lifetime healthcare needs.
A recently widowed 64-year-old lost health coverage under her deceased husband's employer plan. What is her best Medicare-related option to bridge coverage to age 65?
Answer: She may elect COBRA continuation coverage from the employer plan for up to 36 months
Loss of coverage due to a spouse's death qualifies a surviving dependent for up to 36 months of COBRA continuation, bridging the gap until Medicare eligibility at 65.
What is the primary advantage of a Medicare SELECT plan compared to a standard Medigap plan?
Answer: Medicare SELECT plans typically have lower premiums in exchange for using a restricted network of providers
Medicare SELECT is a type of Medigap policy that offers lower premiums in exchange for a network restriction, requiring enrollees to use specific hospitals and providers for full benefits.
Under the ACA, how does the pre-existing condition exclusion affect retirees between ages 62 and 64 purchasing individual health insurance?
Answer: Insurers cannot deny coverage or charge higher premiums based on pre-existing health conditions
The ACA prohibits insurers in the individual and small group markets from denying coverage or charging higher premiums based on pre-existing conditions.
A CRPC practitioner advises a 63-year-old client with a high-deductible health plan (HDHP) to maximize HSA contributions for two years before Medicare enrollment. What is the PRIMARY reason this is beneficial?
Answer: Accumulated HSA funds can be used tax-free for Medicare premiums, out-of-pocket costs, and LTC premiums in retirement
HSA balances can be used tax-free in retirement to pay Medicare premiums (except Medigap), deductibles, copays, coinsurance, and qualified LTC insurance premiums.
Which of the following correctly describes the relationship between Veterans Administration (VA) healthcare benefits and Medicare?
Answer: VA benefits and Medicare are separate programs; Medicare does not pay for care received at VA facilities
VA healthcare and Medicare operate independently; Medicare does not cover care at VA facilities, and veterans must enroll in Medicare separately to have coverage outside the VA system.