Social Insurance Programs Flashcards
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Read the first 7 Social Insurance Programs flashcards as text
Which statement about Medicare Part B premiums is correct?
Answer: Higher-income enrollees pay an income-related monthly adjustment amount (IRMAA)
Medicare Part B uses an Income-Related Monthly Adjustment Amount (IRMAA), meaning higher-income beneficiaries pay a larger premium than standard-income enrollees.
Supplemental Security Income (SSI) differs from Social Security Disability Insurance (SSDI) primarily in that SSI is:
Answer: A needs-based program funded by general tax revenues
SSI is a needs-based assistance program funded by general federal revenues that does not require prior work history, unlike SSDI which is based on work credits.
Under Social Security, the Full Retirement Age (FRA) for individuals born in 1960 or later is:
Answer: 67
For individuals born in 1960 or later, the Full Retirement Age is 67, as the FRA was gradually increased from 65 under the Social Security Amendments of 1983.
A Medicare SELECT policy differs from a standard Medigap policy primarily because it:
Answer: Requires the use of network providers for non-emergency care to receive full benefits
Medicare SELECT is a type of Medigap plan that uses a network of preferred providers and requires policyholders to use those providers for non-emergency services to receive full benefits.
Which of the following is a key characteristic of the Social Security Old-Age, Survivors, and Disability Insurance (OASDI) program?
Answer: It is funded on a pay-as-you-go basis through current payroll taxes
OASDI operates on a pay-as-you-go system where current workers' payroll taxes fund the benefits paid to current retirees and disabled workers.
Which Medicare enrollment period allows beneficiaries to switch, join, or drop Medicare Advantage plans once per year?
Answer: Annual Election Period (AEP)
The Annual Election Period (AEP), which runs October 15 through December 7 each year, allows Medicare beneficiaries to make changes to their Medicare Advantage and Part D plans.
Medicaid's Estate Recovery Program (MERP) allows states to seek reimbursement from the estates of deceased Medicaid recipients who received which type of care?
Answer: Long-term care services such as nursing home care
States are required to recover costs from the estates of Medicaid recipients aged 55 or older who received long-term care services such as nursing home care.